Light & Wonder Stock Could Re-Rate Quickly

Dow Jones10-08

2326 GMT - Light & Wonder's bull at Macquarie thinks the slots maker's shares look ripe for a quick re-rate. One of the investment bank's analysts writes in a note that improved game performance looks a likely catalyst to support investor confidence in gaming operations placements and yields. They also think Light & Wonder could launch a strategic review into products, live operations and features at its SciPlay digital-game developer. The analyst reckons that Light & Wonder shares are trading at nine times earnings on a 12-month forward basis, which represents a 55% discount to rival Aristocrat. Macquarie maintains an "outperform" rating and lifts target price 2.7%, to 185.00 Australian dollars. Shares are up 1.4%, at A$111.86.

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