As previously reported, Wedbush analyst Nick McKay initiated coverage of Embracer Group with an Outperform rating and SEK 28 price target. The firm believes Embracer has a compelling collection of assets, including a multitude of high-profile IPs, that should help it to deliver growth within gaming and certain non-gaming verticals for the foreseeable future. Some, if not all, of the issues that negatively impacted margins in FY23 should be transitory in nature, and it has shown a greater commitment to driving shareholder value through its restructuring program.
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