Everi Holdings price target lowered to $18 from $25 at Craig-Hallum

Craig-Hallum lowered the firm’s price target on Everi Holdings to $18 from $25 and keeps a Buy rating on the shares following quarterly results. The firm believes the turbulence will be temporary. With an estimated free cash flow this year of $148M and expectations for “the same zip code” or better into 2024, investors are getting a bit of a gift for what Craig-Hallum views as a temporary challenge. Further, the firm thinks the company’s market lead in FinTech for the casino market should continue to grow as it grabs wallet share in mobile and loyalty and is expected to grow mid-single digits or better in 2024.