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Fly News Breaks for August 8, 2019
AGS
Aug 8, 2019 | 10:29 EDT
Stifel analyst Brad Boyer maintained a Buy rating on PlayAGS, but lowered his price target on shares to $24 from $33 following the company's Q2 earnings results. The Q2 report included adjusted EBITDA 8% below the analyst's model and 10% below the consensus, along with revised FY19 EBITDA outlook around 9% lower. While the analyst said this looks "like a case of a broken growth story at first glance," he believes a majority of the issues are transitory and is confident management can correct them. Boyer suggested being a buyer on weakness.
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