Macquarie raised the firm’s price target on Gambling.com (GAMB) to $16 from $14 and keeps an Outperform rating on the shares post the “beat-and-raise” quarter. Gambling.com continues to grouped unfairly with other gambling affiliates facing headwinds specific to their underlying businesses, rather than an industry-wide issue, the analyst tells investors in a research note. The firm says the company’s Q3 results reflected global market shares gains with strength in Europe, including the addition of the Freebets.com acquisition, and resiliency in North America against a tough compare.
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