Wedbush upgrades SciPlay on strong growth drivers

SciPlay

10/06/2022 11:39

** Wedbush raises rating on game developer SciPlay Corp
 SCPL.O  to "outperform" from "neutral"
    ** Says several growth drivers could ultimately enable SCPL
to comfortably surpass Street's expectations for the next few
years
    ** Adds the nascent ad business and one or more successful
new releases, among other potential catalysts, could also help
SCPL to deliver corresponding profit beats 
    ** Brokerage also raises PT to $17 from $14.50, implying an
upside of ~23% to last stock's close
    ** "On the games front, SciPlay intends to deliver 1 – 2 new
casual releases each year that will be additive to its social
casino business" - Wedbush
    ** Avg. rating of 12 analysts is "hold"; median PT is $16 -
Refinitiv data
    ** As of last close, stock marginally up this year
    

 (Reporting by Tiyashi Datta in Bengaluru)
 ((tiyashi.datta@thomsonreuters.com))