Image source: Shutterstock
Highlights
Light & Wonder holds a consensus BUY rating of 1.86 with a target price of AUD 195.23, implying a 53.09% upside from the current trading price.
Major brokers like Macquarie, Canaccord Genuity, and Bell Potter have all issued Buy/Outperform ratings.
The company reaffirmed its USD 1.4 billion AEBITDA target for 2025 and plans to double adjusted NPATA per share to over USD 10.55 by 2028.
In Q1 2025, LNW marked its 16th straight quarter of revenue growth, with USD 774 million in revenue and 11% AEBITDA growth.
The company also returned USD 166 million to shareholders via buybacks.
Light & Wonder Inc. (ASX:LNW) is drawing significant attention from leading brokers, with the company currently holding a consensus BUY rating of 1.86 and a target price of AUD 195.23, reflecting a 53.09% upside from its latest trading price of AUD 127.53. The optimistic sentiment follows the gaming and entertainment giant’s reaffirmation of its ambitious 2025 and long-term financial targets, complemented by a robust Q1 performance and strategic acquisitions.
Broker Confidence Signals Upside Potential
Analysts from prominent institutions including Macquarie Research, Canaccord Genuity, and Bell Potter Securities have issued “Buy” or “Outperform” ratings for Light & Wonder.
-
Macquarie Research’s analyst David Fabris reaffirmed an Outperform recommendation with a price target of AUD 188, suggesting a 48.88% upside, as of 17 June 2025.
-
Canaccord Genuity’s Allan Franklin set a BUY rating and a target of AUD 195, indicating a potential gain of 54.42%.
-
Bell Potter Securities’ institutional analyst Baxter Kirk echoed the bullish view, issuing a BUY rating with a AUD 194 target, or a 53.63% upside.
Strategic Clarity and Financial Milestones
Investor sentiment has been buoyed by Light & Wonder’s recent financial performance and clearly articulated growth targets. The company confirmed its 2025 Consolidated AEBITDA goal of USD 1.4 billion, excluding contributions from the recently acquired Grover Charitable Gaming assets. Looking further ahead, the management has laid out a multi-year framework to double adjusted NPATA per share to over USD 10.55 by 2028, targeting USD 2.0 billion in AEBITDA.
In the Gaming segment, Light & Wonder plans to expand its North American premium footprint by 400 basis points and increase its global game sales market share by a similar margin by 2028. Additionally, the acquisition of Grover Gaming is expected to fuel further growth in the Charitable Gaming space.
Business Segment Highlights
The company’s iGaming division is targeting an increase of 300 basis points in global market share of first-party content, aiming to exceed 10% by 2028. The strategy includes entering new geographies and strengthening platform capabilities. Meanwhile, the SciPlay unit seeks to grow Average Revenue Per Daily Active User (ARPDAU) by over 30% and shift 30% of revenue to a direct-to-consumer model.
Positive Start to 2025
In Q1 2025, Light & Wonder reported its 16th consecutive quarter of year-over-year revenue growth, with consolidated revenue rising to USD 774 million, a 2% increase. AEBITDA grew by 11% to USD 311 million, while adjusted NPATA increased 11% to USD 117 million, translating to a 21% jump in adjusted NPATA per share to USD 1.35.
The company also returned USD 166 million to shareholders through share buybacks during the quarter.





_11_12_2026_11_18_43_829163.jpg)
Please wait processing your request...