Light & Wonder initiated with a Buy at Canaccord

Canaccord initiated coverage of Light & Wonder with a Buy rating and A$164 price target. The U.S.-headquartered and incorporated company is a “market leader” in the global gaming market that has made “solid progress” towards its stated targets and has proven out strong operating momentum over FY23, the analyst tells investors. The firm consider scale to be of high importance in the sectors that it operates in and sees L&W increasingly leveraging its market positions to drive organic and inorganic growth, the analyst added.