Investors don’t need to play slots to hit jackpots, but they can benefit from vibrancy ascribed to gaming device manufacturers International Game Technology (NYSE: IGT) and Light & Wonder (NASDAQ: LNW).
That’s the sentiment of B. Riley analyst David Bain who initiated coverage of both stocks in notes to clients today. He started coverage of Light & Wonder with a “neutral” rating and a $57 price target, implying downside from today’s closing handle at $61.84. He’s more constructive on IGT on which he has a “buy” grade and price objective of $43, or 55.3% above where the shares closed today.
One of the reasons Bain is bullish on IGT is its highly profitable lottery unit. Light & Wonder sold its lottery business in late 2021.
That’s the sentiment of B. Riley analyst David Bain who initiated coverage of both stocks in notes to clients today. He started coverage of Light & Wonder with a “neutral” rating and a $57 price target, implying downside from today’s closing handle at $61.84. He’s more constructive on IGT on which he has a “buy” grade and price objective of $43, or 55.3% above where the shares closed today.
One of the reasons Bain is bullish on IGT is its highly profitable lottery unit. Light & Wonder sold its lottery business in late 2021.