Light & Wonder (LNW) PT Raised to $121 at Jefferies

Jefferies analyst David Katz raised the price target on Light & Wonder (NASDAQ: LNW) to $121.00 (from $120.00) while maintaining a Buy rating.

The analyst comments "LNW shares are down 26% from their 9/19/24 peak of $115, though we believe the upside merits remain. Our view is that the legal challenges with a competitor are unlikely to have a material financial impact, given the current competitive landscape heavily favors LNW and its largest competitors. With EBITDA growing at double-digit CAGR through our '26 estimates and FCF conversion meaningfully higher in 2025-26, we expect the shares to retrace toward our $121 PT."

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