(News Bulletin 247) – Berenberg renewed its buy recommendation on Focus Entertainment on Thursday, with a target price of 65 euros, forecasting both an upward revision of consensus forecasts as well as the completion of operations mergers and acquisitions (M&A).
The financial intermediary explains that he emerged from a recent meeting with Sean Brennan, the general manager of the video game group, and Laure d’Hauteville, its financial director, with increased confidence in the activity and the company strategy.
The analyst therefore raises his forecasts for turnover and results for the financial year which will close at the end of March, counting in particular on better than expected sales for the title ‘Atomic Heart’.
But Berenberg stresses that the buoyant momentum supporting the group’s games heading into the new fiscal year 2023/2024, like its solid ‘pipeline’ of forthcoming titles, should also support the company’s growth in the coming months and lead to an upward revision of market forecasts.
The professional also believes that it is obvious that mergers and acquisitions (M&A) operations are on the agenda today.
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