Citi repeats its Neutral rating on live casino developer Evolution with an unchanged price target of SEK 820 after a third quarter in line with expectations.
The research house lowers its revenue forecasts for 2026 and 2027 by 0.4 and 0.9 percent, respectively, due to uncertainty in Brazil, where the company’s studio may remain closed during the first quarter of 2027.
EBITDA forecasts are lowered by 0.8 and 1.3 percent, respectively. Citi expects an adjusted EBITDA margin of 65.7 percent for 2026, slightly below the company’s forecast of around 66 percent.
