Jefferies walked away from the Gaming and Leisure Properties ( NASDAQ: GLPI ) earnings report and conference call with an incrementally more bullish view on the stock.
Analyst David Katz and team think the GLPI quarter and commentary offered up earnings visibility amid an uncertain environment for much of the gaming sector. The firm also likes the prospects for further revenue growth.
Of note from the earnings call, GLPI management maintained that a Bally's Lincoln sale leaseback transaction is a possibility in 2024 and a long-term leverage target of 5.0X to 5.5X is in play. While Landside development at Hollywood Casino Baton Rouge continues to move forward, the view from Jefferies is that casino legalization in Texas is unlikely over the near-term despite some recent political movement.
Jefferies has a Buy rating on GLPI and price target of $61.
Read the Gaming and Leisure Properties ( GLPI ) earnings call transcript .
Dig into the Gaming and Leisure Properties ( GLPI ) Q4 earnings report.
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Gaming and Leisure Properties stock is called a casino sector standout by Jefferies