Stifel keeps Brightstar Lottery a top pick after Q3 miss, cuts target price to $18
In short
The brokerage firm adjusted its valuation expectations downward following the release of the third-quarter numbers. Brightstar Lottery fell short of earnings projections for the period, prompting a reduced price objective of $18. Nevertheless, the firm reaffirmed the stock's status on its preferred investment list.
Key points
- Analysts continue to favor Brightstar Lottery despite its disappointing third-quarter ear…: Analysts continue to favor Brightstar Lottery despite its disappointing third-quarter earnings report.
- The company faces a revised valuation target of $18 from brokerage analysts.: The company faces a revised valuation target of $18 from brokerage analysts.
- Institutional backing persists for the asset even after the recent quarterly shortfall.: Institutional backing persists for the asset even after the recent quarterly shortfall.