Jefferies downgraded Everi Holdings (EVRI) to Hold from Buy with a price target of $13, down from $18. The announced merger of Everi with International Game’s (IGT) gaming business presents a long-term strategic positive for shareholders. In the near term, time to closing could exceed the end of 2024/early 2025 target, given regulatory approvals, and therefore the shares could be tethered to a discounted value on the deal, or $13, says the firm.
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