Susquehanna lowered the firm’s price target on Light & Wonder to $90 from $92 and keeps a Neutral rating on the shares. The firm noted a US District Court ruled against the company in an IP/trade secret suit brought by Aristocrat specifically for a game called Dragon Train. Susquehanna said while the company has completed an impressive operational turnaround, its valuation has commanded a notable premium to peers and the immediate impact of the unfavorable ruling is that its premium valuation is now at risk.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on LNW:
- Light & Wonder Stands Firm Amid Legal Dispute and Growth Goals
- Light & Wonder backs FY25 adjusted EBITDA view $1.4B after Aristocrat injunction
- Light & Wonder Reports Increase in CDI Issuance
- Bet On It: DraftKings leans into live betting opportunity with Simplebet deal
- Kymera upgraded, MoonLake downgraded: Wall Street’s top analyst calls