James Wheatcroft, an analyst from Jefferies, maintained the Buy rating on Hacksaw AB. The associated price target remains the same with SEK100.00.
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James Wheatcroft has given his Buy rating due to a combination of factors that became clearer after visiting Hacksaw AB’s Stockholm headquarters. He gained conviction in the company’s structural strengths, such as its differentiated game portfolio, in-house technology stack, and robust compliance framework, as well as the strategic potential of its OpenRGS distribution and rapid development pipeline.
He also views artificial intelligence as a positive catalyst that can further enhance Hacksaw’s product and operating efficiency rather than a threat to its model. On valuation, he highlights that the shares trade at a modest FY26E EV/EBITDA multiple, while offering strong forecast growth, very high EBIT margins, solid free cash flow generation, and substantial capital returns to shareholders through dividends and buybacks.
Wheatcroft covers the Consumer Cyclical sector, focusing on stocks such as The Gym, Entain plc, and Flutter Entertainment PLC. According to TipRanks, Wheatcroft has an average return of 3.6% and a 44.81% success rate on recommended stocks.
In another report released on March 11, Citi also maintained a Buy rating on the stock with a SEK88.00 price target.