Crispr Therapeutics shares tumble after significant earnings miss
Investing.com - BofA Securities upgraded Entain PLC (LON:ENT) from Neutral to Buy and raised its price target to GBP11.00 from GBP8.80, citing increased confidence in the company’s BetMGM joint venture.
The upgrade reflects three key factors: greater confidence in BetMGM operations, positive regulatory developments in New Zealand, and expected free cash flow improvement in 2026, according to BofA Securities.
The research firm highlighted that despite Entain’s year-to-date stock rally, shares still trade at an attractive 8x 2025E EV/EBITDA compared to European peers at 8.5x and U.S. peers at much higher multiples.
BofA Securities noted that Entain offers a 30%+ three-year EPS compound annual growth rate while trading at 18x 2025E P/E, making the valuation compelling relative to growth prospects.
While identifying potential UK tax changes as a risk, BofA Securities does not expect regulatory changes until 2027 at the earliest, and has made minor adjustments to its 2025-2027 earnings per share estimates for the gambling company.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.