Berenberg reiterates 'buy' rating on Entain following Q1 update.
Analysts at Berenberg reiterated their 'buy' rating and 1,100.0p target price on bookmaker Entain, noting that momentum was continuing to build.
Entain
02 May 2025 10:37:32
Source: Sharecast
Berenberg said Entain's Q1 update showed momentum continuing to build on the group's "solid performance" in FY24, with growth in its online division surpassing its expectations, while the UK was a "stand-out performer", showing an acceleration of growth on Q4.
The German bank also noted that the Q1 BetMGM performance was solid and leaves FY25 consensus "looking conservative".
"We now sit ahead of guidance on the US and while we remain in line on the ex-US business, numbers certainly could surprise to the upside if momentum continues to build as it did in Q1," said Berenberg, which also stated that it views the appointment of Stella David as permanent CEO as "a positive".
Halifax is not responsible for the content and accuracy of the Markets News articles. We may not share the views of the author. Understand the risks, please remember the value of your investment can go down as well as up and you may not get back the full amount you invest. We don't provide advice so if you are in any doubt about buying and selling shares or making your own investment decisions we recommend you seek advice from a suitably qualified Financial Advisor. Past performance is not a guide to future performance.
