Analyst coverage launches on PlayAGS

|By:, SA News Editor

The quiet period is over on PlayAGS (AGS +0.6%) following the IPO last month.

Deutsche Bank is out of the gate with a Buy rating and price target of $23.

"In AGS, we see an upstart equipment supplier, with a steady cash flow generating install base, several growth avenues, both domestic and international, and multiple fundamental tailwinds, which should promote a multiyear double-digit EBITDA CAGR," writes analyst Carlos Santarelli.

Buy/Buy-equivalent ratings are also in from Stifel Nicolaus, Bank of America Merrill Lynch and Macquarie. The cautious one in the bunch is Jefferies with a Hold rating and $21 PT.

PlayAGs currently trades at $20.06 vs. the $16 IPO pricing.

Sources: Bloomberg, Benzinga

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