RBC Capital downgraded Enthusiast Gaming to Sector Perform from Outperform with a price target of C$0.30, down from C$1.50. The company’s Q4 results were below forecasts and the timeframe for turning adjusted EBITDA positive was pushed out, the analyst tells investors in a research note. The firm says the longer timeframe to profitability brings the balance sheet and liquidity into greater focus, making it “notably more cautious on the name.”
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on EGLXF:
- Enthusiast Gaming Pivots Towards Profitability
- Enthusiast Gaming Streamlines with C$4.1M Asset Sale
- Enthusiast Gaming announces C$4.1M sale of select non-core assets
- Enthusiast Gaming Advances Strategic Objectives with C$4.1 Million Sale of Select Non-Core Assets
- Enthusiast Gaming Announces Profit-Boosting Playwire Deal
