Berenberg reiterates 'buy' rating on Entain following Q1 update
By Iain Gilbert
Date: Friday 02 May 2025
(Sharecast News) - Analysts at Berenberg reiterated their 'buy' rating and 1,100.0p target price on bookmaker Entain, noting that momentum was continuing to build.
Berenberg said Entain's Q1 update showed momentum continuing to build on the group's "solid performance" in FY24, with growth in its online division surpassing its expectations, while the UK was a "stand-out performer", showing an acceleration of growth on Q4.
The German bank also noted that the Q1 BetMGM performance was solid and leaves FY25 consensus "looking conservative".
"We now sit ahead of guidance on the US and while we remain in line on the ex-US business, numbers certainly could surprise to the upside if momentum continues to build as it did in Q1," said Berenberg, which also stated that it views the appointment of Stella David as permanent CEO as "a positive".
Reporting by Iain Gilbert at Sharecast.com
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