BUZZ-Light & Wonder's ASX-listed shares continue to fall on legal blow; broker cuts PT

Reuters

Sep 25, 2024

** ASX-listed shares of Light & Wonder slip as much as 3.6% to A$129.74, extending losses to fifth straight session

** J.P Morgan cuts PT to A$150 from A$170; retains "overweight"

** Slashes U.S-based gaming co's FY25 earnings estimate by 2% to reflect the removal of Dragon Train poker machine game from sales and earnings

** "We believe LNW will still generate mid- to high-single-digit EBITDA growth through FY25/FY26"

** U.S. court granted preliminary injunction to rival Aristocrat Leisure's unit relating to L&W's Dragon Train game

** Avg rating of analysts is "buy"; their median PT is A$175 – LSEG

** YTD, stock gains ~8.4%

(Reporting by Archishma Iyer)

((Archishma.Iyer@thomsonreuters.com;))

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