Stifel lowered the firm’s price target on Light & Wonder to $100 from $108 and keeps a Hold rating on the shares after a district court granted Aristocrat a preliminary injunction restricting L&W from further sales and leasing of the “highly successful” Dragon Train franchise until a final ruling. Prior to the injunction, the firm believes consensus called for an outcome favoring L&W, though the legal documents reveal several notable court findings which shift probability incrementally in Aristocrat’s favor, the analyst tells investors.
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Read More on LNW:
- Deere dips after Trump tariff threat, DOJ to sue Visa: Morning Buzz
- Morning Movers: Light & Wonder sinks following injunction for Aristocrat
- Light & Wonder price target lowered to $90 from $92 at Susquehanna
- Light & Wonder Stands Firm Amid Legal Dispute and Growth Goals
- Light & Wonder backs FY25 adjusted EBITDA view $1.4B after Aristocrat injunction
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