Gambling-stock price targets lowered — CDC Gaming
“It’s the economy, stupid!” was the headline on an April 23 investor note by Truist Securities analyst Barry Jonas. Noting that gaming is “among the best positioned sub-sectors within a perhaps more mixed consumer sector,” he nonetheless said that prudence suggests lowering price targets on gambling stocks.
Jonas continued that he saw bargains everywhere within the gaming group, but favored companies whose cash flow is stable. To that end, he recommended real estate investment trusts (REITs) Vici Properties and Gaming & Leisure Properties.
Among gaming stocks, he liked Churchill Downs and Monarch Casino Resorts for their asset quality. Digital-only stocks DraftKings and Flutter Entertainment also enjoyed Jonas’s favor.
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