Inspired Entertainment price target lowered to $15 from $19 at JMP Securities

JMP Securities analyst Jordan Bender lowered the firm’s price target on Inspired Entertainment to $15 from $19 and keeps an Outperform rating on the shares. Inspired reported a “mixed” Q3 after announcing in November that it was undergoing a process to correct “certain accounting errors relating to the compliance with U.S. GAAP,” the analyst tells investors in a research note. The restated financials highlight that the expected impact on results was far less than anticipated, while shares are back to levels prior to the original announcement, the firm says.