Berenberg reiterated its 'buy' rating and 1,100.0p target price on bookmaker Entain on Tuesday, stating that recent upgrades to BetMGM guidance boded well.
Entain
01 July 2025 15:39:04
Source: Sharecast
The German bank said guidance at BetMGM, the joint venture between Entain and MGM Resorts, was "overly conservative" and that its estimates sat ahead of guidance as a result.
On 16 June, BetMGM delivered a positive trading update, upgrading its FY25 guidance following a strong Q2 performance. Berenberg said the upgrade for FY25 was better than it had expected – driving a 5.5% upgrade to its FY25 earnings per share estimate.
"Looking ahead, we remain confident in Entain's ex-US business and in BetMGM, which continues to go from strength to strength," said Berenberg.
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.
