UPDATE: Benchmark Starts Motrosport Games Inc. (MSGM) at Buy
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Benchmark analyst Mike Hickey initiates coverage on Motrosport Games Inc. (NASDAQ: MSGM) with a Buy rating and a price target of $42.00.
The analyst commented, "We are initiating coverage of Motorsport Games, Inc. (NASDAQ: MSGM) with a Buy rating and $42 price target. MSGM develops and publishes racing games and immersive esports experiences of the world's most iconic races and brands including NASCAR, 24 Hours of Le Mans, FIA World Endurance Championship (WEC) and British Touring Car Championship (BTCC). MSGM competes at the intersection of motorsports, gaming and esports. We estimate MSGM has $67M in cash and $10M in debt."
Shares of Motrosport Games Inc. closed at $32.66 yesterday.
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