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Investing.com - Benchmark maintained its Buy rating and $18.00 price target on SGHC Limited (NYSE:SGHC) on Tuesday, citing strong operational momentum in the third quarter. The stock, currently trading at $11.63, has delivered an impressive 219% return over the past year, with analyst targets ranging from $15 to $19.
The research firm noted that Super Group likely exceeded performance expectations during the period, with healthy engagement trends across its key international markets.
Benchmark believes the company’s third-quarter results benefited from solid sports betting outcomes, effective pricing optimization strategies, and stable casino activity throughout the period.
The firm highlighted that improved trading efficiency and operational leverage enhanced profitability across Super Group’s core regions during the quarter.
Benchmark acknowledged that sports betting outcomes appeared to moderate somewhat following the company’s mid-September guidance update and into October, though it believes customer engagement trends likely remained resilient.
In other recent news, SGHC Limited has seen a series of positive developments. Benchmark reiterated its Buy rating with an $18.00 price target, highlighting the company’s improved profitability outlook and revised revenue guidance of $2.085-$2.160 billion, with an AEBITDA of $575-$585 million. SGHC’s strong performance in African markets, contributing around 40% of net revenue, was also noted by Benchmark as a key driver for the company’s updated 2025 guidance. BTIG raised its price target to $19.00, maintaining a Buy rating, citing improved fundamentals following the closure of SGHC’s US sportsbook and iGaming operations. Citizens JMP also increased its price target to $16.00, based on future estimated EBITDA and free cash flow. Canaccord Genuity adjusted its price target to $18.00, maintaining a Buy rating, after attending SGHC’s Investor Day where the company presented growth initiatives. These updates reflect a growing confidence in SGHC’s business strategy and market performance.
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