Susquehanna lowered the firm’s price target on Light & Wonder to $90 from $92 and keeps a Neutral rating on the shares. The firm noted a US District Court ruled against the company in an IP/trade secret suit brought by Aristocrat specifically for a game called Dragon Train. Susquehanna said while the company has completed an impressive operational turnaround, its valuation has commanded a notable premium to peers and the immediate impact of the unfavorable ruling is that its premium valuation is now at risk.
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