FDJ : Deutsche Bank raises its target price
In a research note, the intermediary believes that consolidation in the online betting sector took a 'major step forward' yesterday with FDJ's €2.5 billion takeover of Sweden's Kindred.
In his view, this operation illustrates the French group's strategic ambition to build a more diversified model, but also to focus on fully regulated markets.
The analyst adds that the group paid only a 24% premium to Kindred's last share price, showing a valuation of just 7.1 times earnings.
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