Shares of Light & Wonder (LNW) are soaring 5.08% in pre-market trading on Monday, as investors react to positive analyst sentiment despite a minor price target adjustment. The gaming technology company's stock is gaining momentum following a series of analyst reports that maintain an overall bullish outlook.
Jefferies reaffirmed its Buy rating on Light & Wonder, setting a price target of $113.00. This vote of confidence comes as the average analyst rating for the company remains "overweight," with a mean price target of $114, according to a FactSet poll. These optimistic projections suggest significant upside potential from the stock's current trading levels.
While Deutsche Bank slightly lowered its price target for Light & Wonder from $89 to $87, it maintained a Hold rating on the stock. This minor adjustment appears to have been overshadowed by the broader positive sentiment in the market. The strong pre-market rally indicates that investors are focusing on the company's growth prospects and the overall bullish stance of analysts, despite the small downward revision from Deutsche Bank.
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