CanaccordFollowing yesterday's BNN clip are his upgrade comments following the recent earnings. GLTA
Online gambling market will become 'increasingly lucrative': Analyst
Ontario is officially launching its online gambling market today. Matthew Lee, special situations analyst with Canaccord Genuity, joins BNN Bloomberg to discuss the investment opportunities in the online gaming space. He says the gamification of betting in a regulated environment will provide investors and players with a different experience.
https://www.bnnbloomberg.ca/video/online-gambling-market-will-become-increasingly-lucrative-analyst~2415810
After a fourth-quarter earnings beat, Canaccord’s Matthew Lee said Playmaker Capital Inc. a Toronto-based sports media company, “continues to impress with its organic growth, reflecting robust demand for its audiences and the benefits of the company’s platform-based strategies.” He raised target to $1.15 from $1.10 with a “speculative buy” rating. The average is $1.20.
“On a pro-forma basis, PMKR generated 49-per-cent revenue growth in the quarter driven by a combination of session growth and improving monetization,” he said. “Looking forward, we have elevated our revenue estimates to reflect continued subscriber and advertising momentum. Our EBITDA forecasts are also increased modestly, which reflects increased revenue offset somewhat by opex reinvestment to drive further growth. We maintain our Speculative Buy on PMKR given the consistency of tailwinds supporting its organic revenue growth.”