Pareto Securities drew on Monday up the recommendation for Leo Vegas. Photo: Leo Vegas
Pareto Securities raised on Monday the recommendation for Leo Vegas to buy from the keep, and turned up the riktkursen to sek 52 from the previous 37. In addition, it considers the Norwegian analytikerhuset that there is further potential in the share.
Pareto expects strong sales growth, 55 percent, during the fourth quarter, which reported on 15 February.
Pareto new price target is based on a multiple of EV/sales of 2.4 in 2017, which is in line with similar companies, such as Betsson and Kindred.
“Used the same EV/försäljningsmultipel for the 2018 estimate, it provides a potential value of sek 65 per share in 2018 with further upside potential to 72 crowns per share on the Leo Vegas achieves its goal of 300 million in sales in 2018,” writes the Pareto.
the End of inlåsningsperioden for the insiders and the proposal for a Swedish gaming regulations, both of which are expected in march, may, however, hold back the share price in the short term, says Pareto.
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