Jefferies upgraded PlayAGS shares to buy from hold, citing brighter prospects of accelerating product momentum.
Jefferies says although electronic gaming machines supplier PlayAGS has fallen to deep "out-of-favor status," the "severely undervalued small-cap stock" is nevertheless a prime opportunity for investors. The firm upgraded PlayAGS shares to buy from hold, and raised its price target to $10, implying 89% upside from Friday's close.
to continue growing, [and] leverage to begin decreasing." After surging 13% Monday on the upgrade, PlayAGS shares are now ahead by almost 18% year-to-date, after sliding 25% in 2022. —CNBC's Michael Bloom contributed to this report.
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