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Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) garnered a bullish initiation from JMP Securities on Friday as the analysts applaud the company’s growth plan.
“Our positive opinion is based on several factors, including durable earnings backed by long-term leases with publicly traded casino operators, its ability to demonstrate off-market transactions leveraging its client relationships and reputation from management, strong capital position with low leverage and ample liquidity, and compelling absolute and relative valuation.”
The team of analysts added that the company’s growth plans remain in place and voiced confidence in management given their “solid reputation and strong operator relationships” which aid in deal flow. The company has a “stellar track record for value creation”, the analysts said.
A $53 price target was assigned to the stock alongside the Buy-equivalent rating, suggesting about 20% upside for the stock. Despite the optimistic initiation, shares fell 2.06% prior to Friday’s market open.
Read more on the analysts’ opinion of Boyd Gaming.