Jefferies analyst David Katz raised the firm’s price target on Light & Wonder to $121 from $120 and keeps a Buy rating on the shares. The firm believes “expectations are well aligned” for L&W to reach its target of $1.4B of adjusted EBITDA in 2025, though it acknowledges that “the path to this level has shifted since the guide was given in May 2022.” The slower than expected evolution of iGaming is offset by better than expected social gaming progress as well as the strength in land-based gaming releases, the analyst tells investors.
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