As previously reported, Craig-Hallum analyst Ryan Sigdahl initiated coverage of Super Group (SGHC) with a Buy rating and $12 price target Super Group is a global online gambling operator and the market leader in the fast-growing and multi-billion-dollar TAM that most are ignoring, Africa. The firm notes the company has right sized its operations in recent years, adapted to regulatory changes in Canada, and exited competitive and uneconomic markets. Following adjusted EBITDA declines in 2022/2023, Super Group has returned to growth with strong underlying fundamentals in its core markets. Craig-Hallum thinks this fundamental inflection isn’t well understood given the limited float and challenges during its first few years as a public company.
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Read More on SGHC:
- Super Group initiated with a Buy at Craig-Hallum
- Super Group’s Strong Q1 Performance Prompts Buy Rating from Analyst Bernie McTernan
- Super Group (SGHC) Appoints Deloitte as New Auditor
- Super Group’s Strong Q1 2025 Performance and Strategic Global Expansion Justify Buy Rating
- Super Group price target raised to $14 from $12 at Canaccord