MTG still undervalued according to SHB
SHB points out that MTG is still trading at attractive multiples with a p/e ratio of 6.3 times and an ev/ebitda of 5.0 times on expected 2025.
Next year is otherwise expected to be transformative for the company.
"Acquired studio Plarium, with among other things the game RAID: Shadow Legends (which is the best-selling role-playing game on Google Play and the App Store), will double MTG's sales and add around 75% to operating profit. A capital markets day is expected in the first half of 2025. We expect more insight into synergies and strategy going forward then", SHB writes.
As for the Q4 report, the company is expected to show organic growth of 5 percent, with mixed development for different studios. The report will be published on February 6.
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