Golden Nugget Online Gaming (NASDAQ:GNOG) is standing out as one of Wednesday’s best-performing gaming equities. That’s after a Wall Street analyst touted the company’s enviable positioning in the internet casinos and online sports betting markets.
Tilman Fertitta at a Houston Rockets game. His Golden Nugget Online Gaming soared on new analyst coverage today. (Image:
AP)
In a note to clients today, Benchmark’s Mike Hickey rates GNOG stock a “buy,” with a $27 price target. That forecast implies upside of 31.5 percent from the Jan. 12 closing price. Hickey’s call is enough to have the iGaming name higher by almost 12 percent in late morning trading. If those gains hold or are added to, today would be GNOG’s best intraday performance since its Dec. 30 debut as a public company.