Games Workshop: Stable Pricing and Expanding Margins Support Buy Recommendation

Analyst Grace Gilberg of Jefferies maintained a Buy rating on Games Workshop, with a price target of p21,850.00.

Grace Gilberg has given his Buy rating due to a combination of factors that highlight both pricing power and resilient profitability at Games Workshop. Her analysis of the firm’s proprietary price basket shows that, after a modest October increase, price levels have remained stable, confirming disciplined management of pricing that aligns with the company’s communicated strategy over time.

In addition, she notes that gross margins in the first half of FY26 expanded meaningfully, even though the latest price adjustment came late in the period and tariffs were a headwind. This margin strength, supported by operational efficiencies and leverage, indicates that Games Workshop can protect and enhance profitability, reinforcing her positive stance on the stock and underpinning the Buy recommendation.

According to TipRanks, Gilberg is a 2-star analyst with an average return of 3.0% and a 57.14% success rate. Gilberg covers the Consumer Cyclical sector, focusing on stocks such as Kingfisher, Dunelm Group, and Wickes Group.

In another report released yesterday, TipRanks – OpenAI also reiterated a Buy rating on the stock with a p19,411.00 price target.