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Investing.com - Barclays (LON:BARC) initiated coverage on Baltic Classifieds Group PLC (LON:BCG) with an Overweight rating and set a price target of GBP4.00.
The investment bank described Baltic Classifieds Group as "one of the highest quality classified names" in its coverage, citing the company’s strong market positions across Lithuania, Estonia, and Latvia.
Barclays highlighted that while these Baltic countries have relatively small populations, they possess strong economic fundamentals, good digital adoption rates, and are members of the Euro currency, creating a favorable operating environment.
The bank noted BCG’s diversification across multiple verticals including automotive, real estate, jobs, and generalist classifieds, which helps smooth the company’s earnings profile. Barclays also praised the "very high quality management team" and board of directors with "real industry expertise."
Barclays projected that Baltic Classifieds Group can achieve "low- to mid-teens revenue and mid- to high-teens EPS CAGR over the next few years," citing a "long runway for monetisation" as the company’s take rate remains low compared to industry peers.
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