Bragg Gaming Group’s Strategic Expansion and Strong Financial Performance Drive Buy Rating

Maxim Group analyst Jack Vander Aarde has reiterated their bullish stance on BRAG stock, giving a Buy rating today.

Jack Vander Aarde has given his Buy rating due to a combination of factors, primarily driven by Bragg Gaming Group’s strong performance and strategic expansion into new markets. The company reported a notable increase in revenue and adjusted EBITDA for the first quarter of 2025, with significant growth observed in the US and Brazil markets. This expansion is expected to offset challenges faced in the Dutch market, which has been impacted by regulatory headwinds.
Bragg Gaming Group’s management has reiterated its optimistic guidance for 2025, projecting substantial revenue and EBITDA growth. The company’s strategic shift towards high-margin products and services, along with its strong cash position, suggests a solid financial footing without the need for additional capital. These factors, coupled with the anticipated growth in the US and Brazil, underpin Vander Aarde’s confidence in the company’s future performance, leading to the Buy rating and an increased price target.

In another report released today, Citizens JMP also maintained a Buy rating on the stock with a $6.00 price target.

BRAG’s price has also changed dramatically for the past six months – from C$4.250 to C$6.430, which is a 51.29% increase.