Stifel analyst Brad Boyer lowered the firm's price target on Scientific Games to $30 from $37, but keeps a Buy rating on the shares despite the company having disappointed with "underwhelming" Q4 results and pushed out its deleveraging expectations. The factors that give him confidence to continue with a Buy rating include operational momentum behind the ex-Gaming segments, his hope that new Gaming segment leadership will be able to right the ship, his view that the stock remains "the cleanest way to play the sports betting theme," and his expectation that free cash flow generation will provide the excess liquidity needed to meaningfully de-lever the balance sheet.