Everplay (AIM:EVPL) reached 335p, up 14%, after Wardogs sold more than one million units within its first day on sale.
Shore Capital rates the games publisher 'buy' with a 430p target, viewing the launch as evidence supporting the group’s content strategy and partnership model.
Developed by Bulkhead and published by Team17, Wardogs should help rebuild investor confidence after Hell Let Loose: Vietnam’s more mixed reception, according to the broker.
Behind the launch, management has concentrated on fewer titles with stronger perceived commercial potential, increasing capital spending and dependence on hits in pursuit of higher returns.
The broker’s forecasts put revenue at £174 million for financial year 2026, with EBITDA reaching £51.1 million, compared with £48.5 million in financial year 2025.
Alongside those projections, the report forecasts net cash rising from £51.9 million at the end of financial year 2025 to £62.3 million in financial year 2026.
On current trading, July’s update reiterated full-year expectations, with back-catalogue performance and summer sales providing momentum heading into the second half.
Beyond Team17, StoryToys and Astragon diversify the business, although the report describes financial year 2026 as the first meaningful test of returns from the increased investment.
Half-year results on Tuesday 15 September will provide further detail on current trading.
