LeoVegas (No_rec, TP: SEK) - Discontinuing coverage

We have discontinued coverage of LeoVegas. Our last published recommendation, target price and estimates should no longer be relied upon.

Northern Lights

LeoVegas (Hold, TP: SEK61.00) - Finally made the big time

Following MGM’s SEK6bn bid for LeoVegas, equivalent to a blended average 2022–2023e adj. P/E of c15x on our new estimates, we have raised our target price to SEK61 (48) and downgraded to HOLD (BUY). Considering the board recommended MGM’s bid over several other parties’ non-binding proposals and the CEO/founder’s ‘irrevocable undertakings’, we see a high likelihood for the deal to be finalised and close in H2.

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Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the we...

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the we...