In a report released today, Mike Hickey from Benchmark Co. maintained a Buy rating on Super Group (SGHC), with a price target of $18.00.
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Mike Hickey has given his Buy rating due to a combination of factors that highlight Super Group’s strong position and growth potential in the African market. The company has identified Africa as its most crucial market, contributing significantly to its revenue and driving future guidance. With Africa’s total addressable market expected to grow substantially, SGHC is well-positioned to capitalize on this expansion, supported by favorable demographics and a robust local infrastructure.
Furthermore, SGHC’s strategic focus on a casino-first approach in Africa has resulted in higher margins compared to other regions. The company’s proven execution and market leadership in countries like South Africa and Botswana underscore its operational strength. Additionally, the upcoming relaunch in Nigeria, with improved regulatory clarity and strategic marketing initiatives, presents a new growth catalyst. These factors, combined with a reiterated price target, underpin Hickey’s confidence in SGHC’s future performance.
In another report released today, Citizens JMP also maintained a Buy rating on the stock with a $16.00 price target.