UPDATE: Scientific Games (SGMS) PT Raised to $105 at Craig-Hallum But Has $190+ Upside Potential on Lottery Divestiture

September 24, 2021 8:52 AM EDT
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Price: $84.90 -1.34%

Rating Summary:
    9 Buy, 6 Hold, 3 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 13 | Down: 13 | New: 72
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(Updated - September 24, 2021 9:48 AM EDT)

Craig-Hallum analyst Ryan Sigdahl raised the price target on Scientific Games (NASDAQ: SGMS) to $105.00 (from $100.00) while maintaining a Buy rating saying the path to the Lottery divestiture is becoming clearer by the day, which is a net positive for the company. While they raised their price target to $105 they see potential upside to $190+.

Sigdahl said the transformation and upside potential remains underappreciated by the Street.

"We are raising our price target to $105 based on higher lottery expectations and no other changes, but we think there is potential to $190/share with more bullish expectations for divestiture proceeds, higher RemainCo EBITDA expectations and multiple re-rate," the analyst commented.

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