UPDATE: Jefferies Downgrades Bally's Corp (BALY) to Hold

February 28, 2022 3:51 AM EST
Get Alerts BALY Hot Sheet
Price: $25.60 +1.31%

Rating Summary:
    4 Buy, 5 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 11 | Down: 37 | New: 8
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(Updated - February 28, 2022 8:17 AM EST)

Jefferies analyst David Katz downgraded Bally's Corp (NYSE: BALY) from Buy to Hold with a price target of $38.00 (from $54.00).

The analyst commented, "Our rating change to Hold from Buy is not driven by the quarter but by the change in the market's patience for digital gaming profitability and BALY's anticipated protracted investment cycle in land-based gaming. To be clear, we believe there is considerable upside optionality in BALY longer term, but longer than we anticipated and than peers. Further, we view the pending process of taking the company private tethers the shares to approximate current levels."

For an analyst ratings summary and ratings history on Bally's Corp click here. For more ratings news on Bally's Corp click here.

Shares of Bally's Corp closed at $36.25 yesterday.

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