Inspired Entertainment price target raised to $20 from $16 at Truist

Truist analyst Barry Jonas raised the firm’s price target on Inspired Entertainment to $20 from $16 and keeps a Buy rating on the shares as part of a broader research note previewing the 2023 US Gaming Sector Outlook. Gaming has proven its resiliency and 2023 is not expected to be much different, the analyst tells investors in a research note, stating that gaming fundamentals will slow down only slightly and the improving Digital and the Vegas calendar could even drive some consolidated EBITDA growth. Jonas adds that Inspired Entertainment is a "value play" as the company has a significant long-term opportunity with its Virtual Sports offering and strong interactive content.