Maxim analyst Tom Forte initiated coverage of Light & Wonder with a Buy rating and $144 price target. The company is well-positioned for the digital – iGaming and Social – as well as “analogue”, or land-based, future of gaming, which are growing again folloowing the pandemic setback, the analyst tells investors in a research note. Light & Wonder’s balance sheet has also been strengthened following the 2022 divestitures of its lottery and sports betting businesses that reduced leverage, the firm added.
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