Nebius Group prices $1 billion share offering at $92.50 per share
Investing.com - Bernstein initiated coverage on Cirsa Enterprises SA (CIRSA:SM) with an Outperform rating and a price target of EUR20.20, according to a research note released Monday.
The research firm highlighted Cirsa’s position as a leading gaming and entertainment operator with strong leadership in 80% of its growing markets, noting the company’s omnichannel strategy presents robust opportunities for online expansion, particularly in Latin America.
Bernstein expects this strategy to underpin gradual margin improvement and support what it describes as a strong cash business model for the recently IPO’d company.
The firm values Cirsa at 5.9x EV/EBITDA for 2026, representing a 30% discount to consensus estimates for Lottomatica, and projects EBITDA to grow in the high single digits in the coming years.
Bernstein emphasized Cirsa’s diversification as a key strength, suggesting the company could be a source of long-term value creation beyond its current leadership position in the gaming sector.
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