SciPlay downgraded to Hold from Buy at Truist

Truist analyst Matthew Thornton downgraded SciPlay to Hold from Buy with an unchanged price target of $15. Thornton views Q4 consensus as a slightly high hurdle as it implies the company expanding EBITDA margin by well over 800bps q/q to a new record high outside of the 2Q20 peak pandemic, on lower brand advertising and UA spend, and seasonally higher revenue, the analyst tells investors in a research note. The analyst thinks SciPlay is executing well and is positive on recent board and CFO developments, Thornton adds.