Jefferies hikes Games Workshop price target, shares jump
Miniature wargames manufacturer Games Workshop Group Plc surged on Wednesday after Jefferies hiked its price target on the stock to 18,300p from 11,850p and reiterated its 'buy' rating as it highlighted a "major opportunity".
"Although the success of Space Marine 2 (SM2) means GAW is set to report a year of profit decline in FY26, we think the consistent underlying growth trajectory in the Core (10yr/5yr CAGR +17%/+16%) underpins a reacceleration to double-digit profit growth in FY27," the bank said.
Further out, Jefferies sees SM2 as an indicator of Warhammer's "significant" mass-market potential and said it remains bullish about the opportunity presented by the Amazon TV series.
At 1115 GMT, the shares were up 5.6% at 16,267.66p.
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