- Macquarie analyst Jordan Bender upgraded Accel Entertainment Inc ACEL to Outperform from Neutral with a price target of $17, up from $15, implying a 32% upside.
- Bender said the shares now trade at 6.4 times the estimated 2023 EBITDA, a valuation that does not reflect Accel's "stable fundamentals and near-term potential catalysts."
- The analyst believes that outside of state-imposed closures, distributed gaming could be one of the safest ways to play the gaming industry in 2022.
- Gaming has "proved to be one of the healthiest Covid sectors," but within this, video gaming terminals in Illinois "have been the shining star," said Bender.
- Price Action: ACEL shares traded higher by 2.38% at $12.89 on the last check Friday.
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