Analyst James Wheatcroft of Jefferies maintained a Buy rating on 888 Holdings, retaining the price target of p110.00.
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James Wheatcroft has given his Buy rating due to a combination of factors that suggest strong future performance for 888 Holdings. The company’s recent quarterly results confirm the positive trading update from earlier, with ongoing momentum that supports the full-year guidance. Notably, the company’s EBITDA is already exceeding consensus expectations, indicating robust financial health.
Additionally, the company has demonstrated solid revenue growth, particularly in the online segment, and has successfully returned to growth in retail. Cost-saving measures are on track, and leverage is decreasing, which bodes well for future financial stability. The current valuation appears attractive with an undemanding EV/EBITDA multiple, and there is potential for significant equity upside as leverage continues to decline. These factors collectively underpin Wheatcroft’s positive outlook on the stock.