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Fly News Breaks for October 29, 2018
SGMS
Oct 29, 2018 | 11:29 EDT
Stifel analyst Brad Boyer said he likes the setup in Scientific Games shares heading into the company's Q3 earnings report, noting that shares are trading at a five-year trough and short interest has risen to about 15% of the float as of October 15. An upbeat tone on Q4 business could produce a positive inflection in investor sentiment, said the analyst, who keeps a Hold rating on the stock given the company's leverage and the market's current aversion to levered equities. Citing his new sum-of-the-parts analysis, Boyer also lowered his price target on Scientific Games shares to $29 from $44.
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