Asmodee, a leading board game company, made its debut on the Stockholm Stock Exchange last Friday, with its share price starting at 105 kronor and reaching a high of 115 kronor. This move has garnered significant attention from investors and analysts alike, with notable firms like Kepler Cheuvreux and Danske Bank issuing buy ratings with target prices of 127 and 120 kronor, respectively.
Kepler Cheuvreux, in its research report, highlighted Asmodee’s impressive track record of 41 acquisitions since 2013, including popular brands like 7 Wonders and Exploding Kittens. The firm believes that further acquisitions could drive a 14% expansion in EBITDA, exceeding their initial forecast, by utilizing just half of its cash flow. This growth potential has led Kepler Cheuvreux to be bullish on Asmodee’s future prospects.
Cantor Fitzgerald, another prominent research firm, also initiated coverage on Asmodee with an overweight rating and a target price of 138 kronor. This positive outlook reflects their confidence in the company’s ability to deliver strong performance in the coming months.
On the other hand, Bernstein took a more cautious approach, assigning a market perform rating and a target price of 100 kronor. While acknowledging Asmodee’s strengths, Bernstein believes that there are potential risks and uncertainties that could impact the company’s valuation.
Overall, the market response to Asmodee’s listing on the Stockholm Stock Exchange has been positive, with analysts and investors closely monitoring its performance. As the company continues to expand its portfolio and drive growth through strategic acquisitions, it is poised to become a key player in the board game industry. Investors are advised to conduct thorough research and consider the various analyst recommendations before making investment decisions in Asmodee.