LNW - Light & Wonder shares light up on long-term target presentation

Light & Wonder (NASDAQ:LNW +8.7%) stock lifted off on Tuesday amid a promising investor presentation. Shares of the Las Vegas-based gaming product provider shot over 8% upward on Tuesday after elucidating its long term targets and aims to transform its business moving forward. “As we look ahead, there is no better time to be in the industry, which is huge, growing, and converging,” CEO Barry Cottle said. “We have transformed ourselves to take full advantage of our unmatched market position to capitalize on this opportunity.” Toward that end, Cottle said the totl addressable market for the company stands at $70 billion. Foreseeing the company growing into that market rapidly, he expects “double-digit growth, a high mix of recurring revenues and robust margins…[and] robust cash flow generation” through the year 2025 while the company continues to gain market share.  Specifically, the company is slated to achieve a free cash flow conversion

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Light & Wonder shares light up on long-term target presentation