FDJ: share price up, broker raises target price
In particular, the analyst highlights the proposed acquisition of Kindred, which he believes 'ticks all the boxes, both strategically and financially'.
'We believe that FDJ is ready to become a serious challenger in the European online gaming market, and that this operation will have a positive impact on growth and profitability, while leaving FDJ with a solid balance sheet', the broker judges.
Stifel raises its 2023 estimates by around 5% and leaves its 2024 projections largely unchanged. Its estimates for 2025 increase by around 30% due to the inclusion of Kindred from that date.
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