Benchmark Co. analyst Mike Hickey maintained a Buy rating on Bragg Gaming Group Inc (BRAG – Research Report) yesterday and set a price target of $6.00.
Mike Hickey has given his Buy rating due to a combination of factors that highlight Bragg Gaming Group Inc’s strong market position and growth potential. The company is entering 2025 with significant momentum, driven by record revenue growth and expanding its high-margin proprietary content. This strategic shift, along with AI-driven platform enhancements, is expected to enhance profitability and support sustained AEBITDA growth. Bragg’s expansion in North America and Brazil is set to be a major growth driver, with these regions projected to contribute significantly to the company’s revenue by the end of the year.
Bragg Gaming Group’s strategic partnerships with major U.S. operators like Caesars and DraftKings further strengthen its market position, while Brazil’s rapidly growing iGaming sector presents a substantial long-term opportunity. The company’s financial health remains robust, with steady cash generation supporting investments in technology and content development. Bragg’s focus on higher-margin revenue streams and operational efficiencies is anticipated to improve overall profitability and shareholder value, justifying the Buy rating.
In another report released today, JMP Securities also maintained a Buy rating on the stock with a €6.00 price target.
BRAG’s price has also changed moderately for the past six months – from C$7.140 to C$6.330, which is a -11.34% drop .
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