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AGS

PlayAGS

$9.18

0.87 (10.48%)

08:43
08/12/19
08/12
08:43
08/12/19
08:43

PlayAGS shares offer 'meaningful upside' after selloff, says Jefferies

Jefferies analyst David Katz believes last week's 52% post-earnings selloff in shares of PlayAGS is overdone. The analyst lowered his price target for the shares to $20 from $27 and keeps a Buy rating on the name. While the nature of the outlook cut should reset both estimates and valuations "for an extended period," the shares at current levels are attractive, Katz tells investors in a research note titled "Horror Week on the 4:30 Movie." His discussions with industry sources and management suggest that the critical product issues for PlayAGS are more likely to slow growth rather than turn it negative. And the market is presently pricing in approximately no growth for PlayAGS and applying a 5.5 times multiple on EBITDA, says Katz. He keeps a Buy rating on the shares.

  • 10

    Sep

AGS PlayAGS
$9.18

0.87 (10.48%)

08/08/19
UGAM
08/08/19
DOWNGRADE
UGAM
Hold
PlayAGS downgraded to Hold from Buy at Union Gaming
08/08/19
BOFA
08/08/19
DOWNGRADE
Target $14
BOFA
Underperform
PlayAGS double downgraded to Underperform at BofA/Merrill
As previously reported, BofA Merrill Lynch double downgraded PlayAGS to Underperform from Buy and lowered its price target for the shares to $14 from $30. After the company's Q2 revenue miss and EBITDA guidance cut, analyst Shaun Kelley said the underperformance seen, especially in the Gaming Operations segment, was a "large surprise," noting that even with the latest cut, the implied 2019 second half acceleration appears to be "challenging." Kelley believes that PlayAGS will re-rate lower as its "unique growth story" becomes "compromised," he told investors in his pre-open downgrade note.
08/08/19
08/08/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Inogen (INGN) downgraded to Hold from Buy at Stifel and to Market Perform from Outperform at SVB Leerink. 2. QEP Resources (QEP) downgraded to Market Perform from Strong Buy at Raymond James, while Oasis Petroleum (OAS) was downgraded to Outperform from Strong Buy. 3. REV Group (REVG) downgraded to Sell from Neutral at Goldman Sachs, while Caterpillar (CAT) and Granite Construction (GVA) were downgraded to Neutral from Buy. 4. PlayAGS (AGS) double downgraded to Underperform from Buy at BofA/Merrill, to Hold from Buy at Union Gaming and Deutsche Bank. 5. 3D Systems (DDD) downgraded to Underweight from Neutral at JPMorgan. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
08/08/19
08/08/19
NO CHANGE

Stifel lowers PlayAGS price target to $24 from $33, would buy on weakess
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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PROS

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FULC

Fulcrum Therapeutics

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DELL

Dell Technologies

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APTS

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PROS

ProSight

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TLRD

Tailored Brands

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0.665 (15.18%)

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ACM

Aecom

$32.97

0.53 (1.63%)

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Estee Lauder

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DRYS

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DRYS

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CDAY

Ceridian

$50.69

0.2 (0.40%)

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DECK

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1.39 (1.05%)

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EL

Estee Lauder

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EL

Estee Lauder

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  • 19

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EL

Estee Lauder

$179.26

3.89 (2.22%)

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