Jefferies analyst James Wheatcroft maintained a Buy rating on 888 Holdings (EVOK – Research Report) today and set a price target of p110.00.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
James Wheatcroft has given his Buy rating due to a combination of factors that suggest a positive outlook for 888 Holdings. The company’s first-quarter performance aligns with its full-year revenue and EBITDA guidance, which is ahead of current market expectations. This indicates that even modest revenue growth for the rest of the year could meet or exceed consensus EBITDA forecasts, providing a solid foundation for future performance.
Additionally, key metrics such as a 26% increase in average revenue per user and a 14% rise in international revenues highlight the company’s operational strengths. The completion of a significant retail expansion and announced cost efficiencies further bolster its financial position. With a valuation that suggests substantial long-term equity upside and a target to reduce leverage, Wheatcroft sees material potential for growth, justifying the Buy rating.