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Fly News Breaks for August 7, 2018
SGMS
Aug 7, 2018 | 08:08 EDT
The post-earnings selloff to Scientific Games' "mixed" Q2 results and elevated capital spending left the shares implying a declining trajectory in estimates that is unlikely, Jefferies analyst David Katz tells investors in a research note titled "Setting It Low Enough To Trip." The analyst lowered his estimates to what he deems conservative levels and dropped his price target for the shares to $46 from $61. With "considerable upside" to his new target, Katz reiterates a Buy rating on Scientific Games.
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