Mike Hickey, an analyst from Benchmark Co., maintained the Buy rating on Bragg Gaming Group Inc (BRAG – Research Report). The associated price target remains the same with $6.00.
Mike Hickey has given his Buy rating due to a combination of factors that highlight Bragg Gaming Group Inc’s strategic positioning and growth potential. The company’s exclusive partnership with RapidPlay in Brazil is a significant driver, expected to contribute substantially to revenue by 2025. This partnership not only enhances Bragg’s content offerings with culturally relevant, locally developed games but also provides exclusive distribution rights and an equity stake, with a future option to take control.
The Brazilian iGaming market is projected to grow significantly, and Bragg’s established presence and strategic investments position it well to capture market share. The company’s operational capabilities in Brazil, supported by a local office and experienced team, further strengthen its execution potential. Additionally, the integration of RapidPlay’s content into Bragg’s Fuze platform is expected to enhance monetization and support the company’s margin expansion strategy, aligning with its broader growth objectives.
Based on the recent corporate insider activity of 9 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of BRAG in relation to earlier this year.