This gambling stock could return as much as 40% as the Las Vegas-based company turns a corner after slimming down, Redburn says.
Redburn Atlantic says Light & Wonder's "transformation" could deliver as much as 40% upside. The firm initiated research coverage of Light & Wonder stock with a buy rating on Tuesday, accompanied by a $104 per share price target. Shares closed at $73.84 on Monday and through Tuesday morning had 29% from the start of the year. The company is responsible for cross-platform gaming on mobile devices and at in-person casinos. LNW YTD mountain Light & Wonder stock.
Analyst Andrew Tam said Light & Wonder is well positioned to capture a greater market share of in-person gaming, while repairing its balance sheet is allowing the ecompany "to reinvest in its core product." "The gaming business remains highly profitable, and ongoing product improvements leave Light & Wonder well placed to retake share within gaming," Tam said.
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