UBS upgraded Light & Wonder to Buy from Neutral with a price target of A$166, down from A$169. The U.S. District Court of Nevada issued an injunction halting the use of trade secrets related to Aristocrat’s “Dragon Link” and “Lightning Link,” and the firm understands that Aristocrat has shown a “fair chance of success” in its suit and that the injunction will remain in effect until litigation concludes. However, after the 18% share price reaction to the “Dragon Train” injunction, the firm thinks the valuation upside “more than compensates” for risks, the analyst tells investors.
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 price target lowered to $100 from $108 at Stifel
- Deere dips after Trump tariff threat, DOJ to sue Visa: Morning Buzz
- Morning Movers: Light & Wonder sinks following injunction for Aristocrat
- Light & Wonder price target lowered to $90 from $92 at Susquehanna
- Light & Wonder Stands Firm Amid Legal Dispute and Growth Goals