Fly News Breaks for March 3, 2020
Mar 3, 2020 | 06:22 EDT
Macquarie analyst Chad Beynon believes the 28% year-to-date drop in shares of Everi Holdings provides an attractive entry point. The stock action is "widely disconnected" from the fundamentals of the company, Beynon tells investors in a research note. Everi's Games segment continues to show momentum and management sounded confident about the product pipeline and backlog going forward, says the analyst. He forecasts 2020 EBITDA and free cash flow growth of 9% and 126%, respectively, for Everi Holdings. Beynon keeps an Outperform rating on the shares with a $15 price target.
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