Bank of America just raised its EUR/USD forecast
Investing.com - Deutsche Bank (ETR:DBKGn) initiated coverage on Cirsa Enterprises SA (CIRSA:SM) with a Buy rating and a price target of EUR22.70 on Tuesday.
The bank highlighted Cirsa’s position as a market leader in gaming across Spain and Latin America, noting the company’s consistent premium growth and 14-year record of EBITDA growth, interrupted only by the COVID-19 pandemic in 2020.
Deutsche Bank pointed to growth tailwinds from dynamic and regulated Latin American economies and the structural growth in online gaming as key factors supporting its positive outlook on the company.
The bank emphasized Cirsa’s proven record of robust cash generation, which it believes will enable reinvestment in organic capital expenditure, mergers and acquisitions, shareholder dividends, and deleveraging efforts.
Deutsche Bank forecasts 7% revenue and 8% EBITDA compound annual growth rate from fiscal year 2024 to 2027, with a steadily improving business mix toward structurally growing online gaming.
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