ICICI Securities expects robust revenue growth in Nazara Technologies’ gamified early learning segment and 200 bps YoY expansion in esports business’ EBITDA margin in FY24
Nazara can use its INR 600 Cr cash reserve to acquire scale through acquisition in the real-money gaming segment, the brokerage said
ICICI Securities has a target price of INR 700 for Nazara, about 38% higher than its closing price of INR 506.65 on Tuesday
ICICI Securities on Tuesday (March 21) initiated coverage on gaming major Nazara Technologies with a target price of INR 700, which implies an upside of almost 38% to the stock’s close today.
The brokerage has a ‘buy’ rating on the stock due to the strong revenue growth in the esports segment and gradual profitability improvement in the gamified early learning segment.
After declining in the last three sessions, shares of Nazara ended today’s session 4.3% higher at INR 506.65 on th
