- Truist analyst Matthew Thornton downgraded SciPlay Corp SCPL to Hold from Buy with a price target of $18, down from $20, implying a 6% upside.
- It follows the company's parent Scientific Games Corp's SGMS proposal to acquire the remaining outstanding shares in a tax-free all-stock transaction.
- There is unlikely to be a meaningful upside to the transaction, Thornton stated.
- Thornton added the deal values SciPlay at just over $17 per share based on yesterday's closing prices.
- Price action: SCPL shares closed higher by 10.55% at $16.98 on Thursday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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