ZEAL's Q3 results exceeded expectations, with lottery revenues up 39% due to a significant rise in user activity. We maintain a BUY rating and raise our price target to € 66.
06 Nov 2025
Strong Q3 EBITDA beat and a 2nd guidance raise in the cards
Sign up for free to access
Get access to the latest equity research in real-time from 12 commissioned providers.
Get access to the latest equity research in real-time from 12 commissioned providers.
Strong Q3 EBITDA beat and a 2nd guidance raise in the cards
ZEAL's Q3 results exceeded expectations, with lottery revenues up 39% due to a significant rise in user activity. We maintain a BUY rating and raise our price target to € 66.