JPMorgan Starts Light & Wonder (LNW) at Overweight, 'The road to success is paved with Light & Wonder'

JPMorgan analyst Don Carducci initiates coverage on Light & Wonder (NASDAQ: LNW) with a Overweight rating and a price target of $98.00.

The analyst comments "We initiate coverage of Light & Wonder (LNW US; LNW AU) with an Overweight rating and Dec-24 price target of US$98 / A$149. Tracking LNW’s recently launched family of games in AUS gives us confidence in the direction of travel for the company to achieve similar growth in the much larger US profit pool. LNW will exceed its 2025 EBITDA target of US$1.4bn and our estimates present 2%/4%/5% upside to FY23/24/25 consensus. Earnings momentum and improved FCF generation justify a higher valuation; albeit we remain cognizant of the impact for non-recurring items taken below the line."

For an analyst ratings summary and ratings history on Light & Wonder click here. For more ratings news on Light & Wonder click here.

Shares of Light & Wonder closed at $82.12 yesterday.

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