Super Group price target lowered to $17 from $18 at Benchmark

Benchmark analyst Mike Hickey lowered the firm’s price target on Super Group (SGHC) to $17 from $18 and keeps a Buy rating on the shares after the UK Autumn Statement introduced material tax increases for iGaming and general remote betting. Management assumes the combined changes represent approximately 6% of 2026 AEBITDA and the firm estimates the incremental duty burden at roughly $40M based on this assumption, but adds that it believes Super Group “retains substantial mitigation capacity” of up to 90% of this estimated burden.