Image Source: Getty Images
NS PointsBet Holdings Ltd (ASX: PBH) Stock prices returned to shape on Friday.
The stock price of a sports betting company rose 6%, ending this week at $ 9.75.
However, despite this strong rise, PointsBet’s share price has been disappointing by as much as 15% year-to-date.
Is the stock price of PointsBet good value?
One of the leading brokers currently finding a lot of value in PointsBet’s share price Goldman Sachs..
According to a recent note, the broker has set a buy valuation and a $ 14.75 price target on the company’s stock.
Based on the current PointsBet share price, this means a potential rise of 51% over the next 12 months.
What did the broker say?
Goldman is pleased with the company’s performance in 2021 and remains confident in the future. Especially given the great opportunities in the US market and the firm position in the US market after the contract with NBC Universal.
Brokers predict that the US market will be worth US $ 37 billion annually by 2033.
Goldman explains: , Iii) Upward risks to the sustainable margins of LRs in Australia and the US, iv) Benefits of scalability before focusing on the positive impact of future NBCUniversal contracts and iGaming synergies, v) Strong management team and execution achievement. Keep buying, in our view that current stock price levels do not reflect much of the upside from potential licensing in states such as New York. “
Overall, brokers believe this makes PointsBet’s share price a great value at its current level.
PointsBet (ASX: PBH) shares are up 51%, according to a major broker
Source link PointsBet (ASX: PBH) shares are up 51%, according to a major broker