Redburn starts obscure betting stock with 40% upside as a buy
Redburn Atlantic states Light & Wonder’s “transformation” might provide as much as 40% benefit. The firm started research study protection of Light & Wonder stock with a buy ranking on Tuesday, accompanied by a $104 per share cost target. Shares closed at $73.84 on Monday and through Tuesday early morning had 29% from the start of the year. The business is accountable for cross-platform video gaming on mobile phones and at in-person gambling establishments. LNW YTD mountain Light & Wonder stock. Analyst Andrew Tam stated Light & Wonder is well placed to catch a higher market share of in-person video gaming, while fixing its balance sheet is permitting the ecompany “to reinvest in its core product.” “The gaming business remains highly profitable, and ongoing product improvements leave Light & Wonder well placed to retake share within gaming,” Tam stated. Tam likewise highlighted Light & Wonder’s divestiture of its lottos sector in 2022, which meaningfully slendered the business and enabled leaner operations. “The sale proceeds were used to pay down debt, repairing Light & Wonder’s balance sheet.,” he stated. “The divestments not only de-levered the business, but also repositioned Light & Wonder towards the faster growing digital segments of social gaming (SciPlay) and online RMG (iGaming).” — CNBC’s Michael Bloom added to this report.
