Wells Fargo analyst Connor Siversky initiated coverage of Gaming and Leisure Properties with an Equal Weight rating and $50 price target. The analyst views the “stable nature” of Gaming and Leisure’s portfolio positively, but estimates a cost of capital disadvantage for the company versus peers. The firm sees below-average core funds from operations growth for Gaming and Leisure in 2024, saying regional assets are missing out on the boost provided by the return of large format conferences to Las Vegas.
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