SGHC Limited (SGHC) PT Raised to $18 at Craig-Hallum

Craig-Hallum analyst Ryan Sigdahl raised the price target on SGHC Limited (NYSE: SGHC) to $18.00 (from $15.00) while maintaining a Buy rating.

The analyst commented: "Following our May initiation on SGHC, shares have risen >50%, and for good reason. SGHC has exited a handful of uneconomic markets, invested in structurally advantaged markets, and is realizing significant cost efficiencies… this has resulted in a meaningful inflection. Financial targets were ahead of Street expectations (especially margins), and we think an organic revenue CAGR of ~10% will prove conservative given accelerating operational momentum. Importantly, management provided the building blocks on its past success (brands, marketing, technology, UX, data science, trading, etc.) and why that should improve going forward in core markets but also with expansion opportunities in Africa, New Zealand, and specific countries in Europe. We continue to view shares as highly compelling in the near and long term. As such, we are reiterating our BUY rating and raising our price target to $18."

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