Berenberg initiates coverage on Hacksaw stock with Buy rating

Published 05/08/2025, 10:00
Berenberg initiates coverage on Hacksaw stock with Buy rating

Investing.com - Berenberg initiated coverage on Hacksaw AB (HACK:SS) with a Buy rating and a price target of SEK100.00 on Tuesday.

The research firm views Hacksaw as a B2B technology provider of online casino games, primarily focusing on online slot games that began operations in 2019 and built its business on a proprietary technology platform.

Berenberg notes that Hacksaw’s game portfolio has grown to over 250 games that are either already live or in production, distributed across an estimated network of more than 3,000 brands.

The firm expects Hacksaw to more than double the size of its games portfolio by 2028 and forecasts that it will deliver a revenue CAGR of approximately 35% to FY 2029.

Berenberg also highlights that Hacksaw is expected to maintain adjusted EBIT margins of more than 80% during this growth period.

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