Following interim results for Ainswortth Game Technology that were in-line with guidance, UBS raises its target price to $1 from $0.72, though retains a Sell rating. The Nth American segment was considered the highlight with a profit in-line with pre-covid levels.
The Latin American segment surprised the analyst with a return to profitability, despite a slower return to normal operating conditions than other markets. A positive 2H skew is expected for what management describes as progressively improving trading conditions.
Sector: Consumer Services.
Target price is $1.00.Current Price is $1.15. Difference: ($0.15) – (brackets indicate current price is over target). If AGI meets the UBS target it will return approximately -15% (excluding dividends, fees and charges – negative figures indicate an expected loss).
