UPDATE: Berenberg Starts Scientific Games (SGMS) at Buy
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Berenberg analyst Zachary Silverberg initiates coverage on Scientific Games (NASDAQ: SGMS) with a Buy rating and a price target of $98.00.
The analyst comments "Portfolio optimization in highest growth areas following a strategic review in H121 enables the firm to invest in three high-growth, content-focused segments. Following the pending divestiture of the lottery and sportsbook segments, we expect the firm to utilize content, technology, and talent to grow market share in its iGaming and social gaming (SciPlay) segments. We estimate the addressable market across these segments to reach ~$35bn in the U.S. by FY25E."
Shares of Scientific Games closed at $85.26 yesterday.
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