(Updated to include BofA Securities' commentary)
BofA Securities upgraded Playtika (PLTK) to buy from underperform, noting that the company boasts the highest profitability in the industry with 30% EBITDA margins, the largest direct-to-consumer platform, and ownership of three of the largest and longest-running franchises in mobile gaming history.
The company operates within a mature yet still growing mobile gaming market, which the brokerage expects to expand at a rate of at least 4% year-over-year for the foreseeable future.
The brokerage raised its 2025 bookings and EBITDA forecasts to $2.85 billion and $740 million, respectively, following its analysis of third-party data for January and February.
Playtika has an average rating of overweight and mean price target of $7.98, according to analysts polled by FactSet.
(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)
Price: 5.39, Change: +0.98, Percent Change: +22.39
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