James Wheatcroft, an analyst from Jefferies, maintained the Buy rating on Evolution Gaming Group AB. The associated price target remains the same with SEK1,350.00.
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James Wheatcroft’s rating is based on the understanding that the recent lawsuit involving Evolution Gaming Group AB is unlikely to have a significant long-term impact on the company’s financial health. Although the lawsuit alleges that Evolution supplied content to an unlicensed casino in California, the sweepstakes model in question represents a small and declining portion of the company’s revenue.
Despite the negative headlines, the market reaction, which saw a substantial drop in Evolution’s market capitalization, seems exaggerated given the limited financial exposure. Wheatcroft believes that the company’s overall business remains strong, and the current stock price presents a buying opportunity.
In another report released on August 19, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a SEK996.00 price target.