Macquarie Sees Sharp Upside In This Distributed Gaming Operator

by Shivani Kumaresan, Benzinga Staff Writer

December 3, 2021 1:59 PM | 1 min read | Make a Comment

Macquarie analyst Jordan Bender upgraded Accel Entertainment Inc ACEL to Outperform from Neutral with a price target of $17, up from $15, implying a 32% upside.
Bender said the shares now trade at 6.4 times the estimated 2023 EBITDA, a valuation that does not reflect Accel's "stable fundamentals and near-term potential catalysts."
The analyst believes that outside of state-imposed closures, distributed gaming could be one of the safest ways to play the gaming industry in 2022.
Gaming has "proved to be one of the healthiest Covid sectors," but within this, video gaming terminals in Illinois "have been the shining star," said Bender.
Price Action: ACEL shares traded higher by 2.38% at $12.89 on the last check Friday.