Bragg Gaming price target lowered to $5 from $6 at JMP Securities

JMP Securities lowered the firm’s price target on Bragg Gaming (BRAG) to $5 from $6 and keeps an Outperform rating on the shares. During the current NFL season, bettors experienced one of the most favorable winning percentages for outright favorites in history, nearly historically bad for sportsbooks, the analyst tells investors in a research note. Bragg’s new CEO and CFO have shaped a plan to drive value across the business as the underlying commentary appears strong, and look focused on high-growth drivers with attractive margin structures like its in-house proprietary content, the firm says.