Benchmark Co. analyst Mike Hickey has maintained their neutral stance on CDRO stock, giving a Hold rating on November 22.
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Mike Hickey has given his Hold rating due to a combination of factors influencing Codere Online’s current and future performance. The company has shown strong cost management and improved unit economics, despite facing challenges such as foreign exchange pressures in Mexico and regulatory issues in Colombia. These factors have allowed Codere Online to maintain a stable financial position, but the potential increase in gaming taxes in Mexico presents a significant headwind that could impact future growth.
In addition, while Spain has shown positive momentum with increased NGR and stable profitability, regulatory uncertainty in Colombia remains a concern. The company’s strategic focus on managing tax implications in key markets like Mexico and Colombia is crucial, as these will shape its long-term economic outlook. Given these mixed signals, Hickey’s Hold rating reflects a cautious stance, acknowledging both the company’s strengths and the external challenges it faces.
In another report released on November 22, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a $7.00 price target.