JPMorgan analyst Joseph Greff upgraded Gaming and Leisure Properties (GLPI) to Overweight from Neutral with a price target of $54, up from $49. The upgrade comes given recent year-to-date share price underperformance, a safe and healthy dividend yield, built-in growth from rent escalators and recent/pending M&A driven growth, providing for attractive visibility, and a predictable business model with far less volatility compared to lodging REITs or Gaming OpCos, the analyst tells investors in a research note. The firm also can’t help but think that a lower interest rate environment will lead to incremental M&A.
Invest with Confidence:
- Follow TipRanks' Top Wall Street Analysts to uncover their success rate and average return.
- Join thousands of data-driven investors – Build your Smart Portfolio for personalized insights.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on GLPI:
- Gaming and Leisure Properties price target raised to $54 from $49 at JPMorgan
- Bet On It: Industry experiences highest-grossing Q3 on record
- Gaming and Leisure Properties price target raised to $57.50 from $53.25 at Stifel
- Bet On It: Legalized sports gambling measure may face recount in Missouri
- Deutsche upgrades Gaming and Leisure Properties to Buy on visibility, valuation