Goldman Sachs expects Nvidia ’beat and raise,’ lifts price target to $240
Investing.com - Stifel has reduced its price target on Light & Wonder (NASDAQ:LNW) to $83.00 from $95.00 while maintaining a Hold rating ahead of the company’s third-quarter earnings report.
The firm cited weakness in the Social Gaming total addressable market and slot machine market share losses in Australia as primary reasons for trimming its third-quarter and fiscal year 2026 AEBITDA estimates by 4% and 1% respectively.
Light & Wonder stock has declined 19% over the past two months, which Stifel attributes to technical volatility ahead of the company’s planned Nasdaq delisting and transition to an ASX sole primary listing.
Despite product momentum and opportunities related to Grover, Stifel remains cautious, noting that technical volatility will likely continue through the Nasdaq delisting and subsequent index shifts.
The research firm identified the conclusion of Dragon Train litigation as the next potential catalyst that could help close the valuation gap between Light & Wonder and competitor Aristocrat.
In other recent news, Light & Wonder, Inc. has announced its plan to delist from the Nasdaq Stock Market, transitioning to a sole primary listing on the Australian Securities Exchange (ASX) effective November 13, 2025. The company will file a Form 25 with the Securities and Exchange Commission on November 3, with Nasdaq trading expected to cease after market close on November 12. Additionally, Light & Wonder has completed a significant financial maneuver by issuing $1 billion in senior unsecured notes at an interest rate of 6.250%, due in 2033. These notes were priced at 100.000% in a private offering, with the transaction set to close on September 24, 2025, pending customary conditions. Furthermore, the company has provided the ASX with a Statement of CHESS Depositary Interests, included in a Form 8-K filing with the SEC. These developments mark a strategic shift for Light & Wonder as it consolidates its market presence on the ASX.
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