UPDATE: Stifel Resumes Everi Holdings (EVRI) at Buy

December 9, 2020 4:15 PM EST
Get Alerts EVRI Hot Sheet
Price: $21.50 -2.14%

Rating Summary:
    10 Buy, 0 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 15 | Down: 9 | New: 24
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(Updated - December 10, 2020 5:44 AM EST)

(updating comment)

Stifel analyst Steven Wieczynski resumes coverage on Everi Holdings (NYSE: EVRI) with a Buy rating and a price target of $16.00.

The analyst comments "EVRI provides gaming equipment and technology solutions to the casino gaming industry. Since suspending coverage on 9/25/2020, shares are up +54% (S&P +12%) due to a stronger-thanexpected Q3:2020 and vaccine news flow offsetting concerns around COVID-19 cases and state restrictions – a theme consistent across our gaming coverage. Our prior Buy-thesis was largely centered on the relative resiliency of EVRI’s recurring gaming ops and FinTech revenues. However, with visibility into a vaccine-led recovery improving, we expect focus to increasingly shift to the long-term outlook where we see EVRI as well-positioned given 1) continued best-inclass gaming ops installs and net yield growth, 2) a growing FinTech product suite cementing a market-leading position, 3) tuck-in M&A opportunities, and 4) a long-term growth opportunity with cashless gaming. Our $16 target price is based on 8.5x our 2022E EBITDA."

For an analyst ratings summary and ratings history on Everi Holdings click here. For more ratings news on Everi Holdings click here.

Shares of Everi Holdings closed at $12.51 yesterday.


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