Spinoff Report
MTGB SS: Buying Opportunity in E-Sports Leader, MP Increase
While its Q2FY19 results were hampered by the cut of their FY19 revenue guidance, Modern Times Group AB (MTGB SS) is in a strong position to reap the benefits as a leader in the e-sports and online gaming space. With no debt, $220m cash-in-hand and a $30m Venture Capital fund ready to deploy, MTG remains as a compelling early-entry opportunity, especially with this recent slump in stock price.

  • First Post-Spin Earnings / Market Reaction Overblown / Investors Recommended Entering at Current Levels
  • Strengthened Financial Position with No Debt and Only Cash Following Nova Broadcasting Sale
  • Anticipated 5G Launch Brings Additional Revenue in the Medium-Term / First Pure-Play Publicly Listed E-Sports Leader
  • Games Publishers Running Their Own E-Sports Leagues are No Threat to MTGB / Further Marks Development in the Space
  • Target Price Revised & Shows Upside / ESR Model Portfolio Weighting Increased by +1% at the End of Tomorrow's (July 24) VWAP
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