Evolution Gaming Group AB, the Technology sector company, was revisited by a Wall Street analyst today. Analyst James Wheatcroft from Jefferies maintained a Buy rating on the stock and has a SEK1,350.00 price target.
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James Wheatcroft’s rating is based on several key factors that highlight the potential of Evolution Gaming Group AB. The company has demonstrated resilience with its 2Q25 EBITDA slightly surpassing consensus expectations and maintaining its full-year EBITDA margin guidance. Despite a modest overall revenue growth of 3%, the company has shown promising developments in specific regions, with Asia returning to growth and North America exhibiting strong momentum.
Additionally, Evolution Gaming is expanding its reach and product offerings, with plans to release 110 new games in FY25 and the opening of new studios in the Philippines and Brazil. The extension of its partnership with Hasbro to develop more MONOPOLY products, along with its entry into Rhode Island through a partnership with Bally, further underscores its growth strategy. With 44% of its revenues now coming from regulated markets, the company is well-positioned to navigate regulatory challenges, and its current valuation appears to account for these headwinds, suggesting potential for future growth.
Wheatcroft covers the Consumer Cyclical sector, focusing on stocks such as Inchcape, SSP Group plc, and Entain plc. According to TipRanks, Wheatcroft has an average return of 10.2% and a 54.21% success rate on recommended stocks.
In another report released on July 11, Citi also maintained a Buy rating on the stock with a SEK1,155.00 price target.