Analyst James Wheatcroft of Jefferies maintained a Buy rating on Lottomatica Group S.P.A., with a price target of €32.00.
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James Wheatcroft has given his Buy rating due to a combination of factors including solid financial delivery and supportive capital allocation. He notes that Lottomatica’s FY25 EBITDA grew strongly year on year and matched market expectations, while the newly issued FY26 guidance also aligns with consensus and points to continued double‑digit growth, backed by a sizeable share buyback that underlines robust cash generation and a healthy balance sheet.
He also highlights Lottomatica’s leading position in the Italian gaming market, which is well placed to benefit from the ongoing shift from offline to online and from regulations that tend to support larger operators. In his view, the combination of structurally higher online exposure, room for further modest acquisitions or additional buybacks, and a valuation that remains undemanding versus its growth profile, alongside clear catalysts such as regulatory-driven market share gains and continued buybacks, supports a positive stance on the shares.
In another report released on February 18, Deutsche Bank also maintained a Buy rating on the stock with a €26.30 price target.