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Fly News Breaks for April 15, 2019
GLPI
Apr 15, 2019 | 06:37 EDT
Stifel is transferring coverage of Gaming and Leisure Properties to analyst Simon Yarmak, who is upgrading his rating to Buy from Hold and raising his price target to $43 from $39. The analyst notes that after the multiple on the REIT has grown by 1.7-times year-to-date, the company "can now make accretive acquisitions at these levels" and believes that it can "sustain long-term growth." Yarmak adds that while finding attractively valued names in the triple-net lease gaming sector is "difficult" following its relative outperformance last year and a strong start to 219, he notes that Gaming and Leisure Properties' valuation of 11.5-times forward AFFO is in-line with its 5-year average of 11.6-times.