Bernie McTernan, an analyst from Needham, reiterated the Buy rating on Super Group (SGHC) (SGHC – Research Report). The associated price target was raised to $11.00.
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Bernie McTernan has given his Buy rating due to a combination of factors that highlight Super Group’s strong financial performance. The company exceeded expectations in the first quarter, with revenue and adjusted EBITDA surpassing forecasts by 12% and 39%, respectively. This outperformance has led to an upward revision of revenue and adjusted EBITDA estimates by 2% and 4%.
McTernan notes that Super Group is effectively executing its strategy to enhance revenue growth and improve margins, which bolsters the investment outlook. Despite the company not altering its guidance, the impressive first-quarter results suggest potential for further positive adjustments in the future.
McTernan covers the Consumer Cyclical sector, focusing on stocks such as DraftKings, Super Group (SGHC), and eBay. According to TipRanks, McTernan has an average return of 3.9% and a 50.31% success rate on recommended stocks.
In another report released yesterday, Oppenheimer also maintained a Buy rating on the stock with a $11.00 price target.