SciPlay Corp: Jumps as brokerage upgrades on virus-related boost

SciPlay

17/04/2020 19:59

** Shares of the social gaming firm  SCPL.O  jump 15.3% to
$10.4 in afternoon trading - on track for best session in nearly
a month
    ** SunTrust Robinson raises rating to "buy" from "hold",
hikes PT to $11 from $9.50, implying ~22% upside to stock's last
close
    ** Says coronavirus-led lockdowns have boosted user
engagement for company's games and will lead to revenue growth
for SCPL in Q2 through Q4
    ** Expects this virus-related boost to extend longer, with
brick-and-mortar casino gamers turning to its mobile games as
casinos remain closed
    ** Brokerage also expects many of these gamers to stick
longer to mobile casino games before returning to casinos
    ** More than 1 mln shares traded, ~4x their 25-day moving
avg
    ** Current avg rating of 13 analysts is "buy"; their median
PT is $13 - Refinitiv data
    ** Despite session's gains, stock is down ~15% so far this
year

 (Reporting by Ayanti Bera in Bengaluru)
 ((Ayanti.Bera@thomsonreuters.com; within U.S.+1 646 223 8780,
outside U.S. +91 80 6749 3401;))