PlayAGS initiated with an Outperform at JMP Securities

JMP Securities initiated coverage of PlayAGS with an Outperform rating and $11 price target. The analyst views the stock’s discount to the sector and its historical average as unwarranted. Consensus EBITDA estimates are conservative given PlayAGS’s product roadmap. With the private equity overhang removed from the stock in late 2022 for the first time since it came public in 2018, and trading volumes improving, PlayAGS is “an attractive opportunity,” the analyst tells investors in a research note.