Analysts also hiked the target price to 1,875p from 1,799p as the industry is presenting opportunities for new partnerships
() was upgraded to ‘buy’ from ‘hold’ by analysts at Liberum due to its “strong” market position.
Analysts also hiked the target price to 1,875p from 1,799p as “major publishers and developers look for partners to simplify their increasingly complex supply chains”.
The services provider to the gaming industry is targeting between six and ten deals per year, as a “fragmented industry means there are plenty of opportunities for further expansion”, according to the broker.
Analysts forecast revenue growth of 14% this year and 11% in 2021, while further upgrades could be driven by new consoles and streaming services.
At the end of the year, Microsoft is set to launch the Xbox Series X while will roll out its PlayStation 5.
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