Texas Capital Securities Starts Accel Entertainment (ACEL) at Buy

Texas Capital Securities analyst David Dain initiates coverage on Accel Entertainment (NYSE: ACEL) with a Buy rating and a price target of $17.00.

The analyst comments "We believe ACEL is an underfollowed/underappreciated gaming operator, which connects visible free cash flow generation, growth and an undemanding/discounted valuation. ACEL’s hyper-local, mostly variable-cost operations leave it better hedged against an economic downturn than most regional casinos, in our view, while forward sales and EBITDA growth outpaces the group average. Despite that, ACEL trades at a ~30%+ EV/EBITDA and FCF yield discount to regional gaming stocks."

For an analyst ratings summary and ratings history on Accel Entertainment click here. For more ratings news on Accel Entertainment click here.

Shares of Accel Entertainment closed at $11.48 yesterday.

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