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On Monday, Benchmark analysts maintained a Buy rating for Light & Wonder (NASDAQ: LNW) with a steadfast price target of $114.00. The firm’s positive stance comes after Light & Wonder emerged victorious in a legal battle in Australia. A court ruling rejected Aristocrat Leisure’s request for an interlocutory injunction related to Light & Wonder’s Dragon Train game. This decision is significant for the company as it dispels the uncertainties regarding the impact of ongoing litigation on games previously sold in the Australian market.
Light & Wonder has confirmed the court’s decision does not necessitate any action from its customers. This development allows the company to continue concentrating on its future content offerings. Light & Wonder is currently developing a pipeline for 2025 and beyond, which includes upcoming titles such as LIGHTNING GONGS and HUFF N’ EVEN MORE PUFF.
The company has acknowledged the ruling with gratitude, recognizing the continued trust from its customers. Despite the challenges posed by the legal dispute, Light & Wonder has reiterated its dedication to supporting the operations of its clients. The firm’s focus remains on delivering innovative content and maintaining its market presence in the gaming sector.
Benchmark’s reiteration of the Buy rating and price target reflects confidence in Light & Wonder’s market strategy and its ability to navigate through the legal complexities without disrupting its business trajectory. The company’s emphasis on a robust content pipeline and customer support underscores its commitment to long-term growth and stability in the gaming industry.
In other recent news, Light & Wonder has been the subject of several recent developments. Benchmark analysts have reiterated their Buy rating for Light & Wonder, setting a stable price target of $114.00. The analysts’ confidence in the company is backed by its strategic initiatives and the potential for new game launches to drive future success.
In addition, Jefferies analyst David Katz has updated his outlook on Light & Wonder, increasing the price target to $121.00 from $120.00, while maintaining a Buy rating. Katz’s optimism is supported by the company’s financial projections, which anticipate a double-digit compound annual growth rate (CAGR) in EBITDA through the year 2026.
Light & Wonder has also been active in regulatory compliance, disclosing information to the Australian Securities Exchange (ASX) and the U.S. Securities and Exchange Commission (SEC). The company provided the ASX with a Statement of CHESS Depositary Interests on Issue (Appendix 4A) and filed a Form 8-K with the SEC. These updates reaffirm Light & Wonder’s commitment to compliance with market regulations and transparency towards its investors.
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