everplay delivered 2025 results and outlook in line with our expectations. We believe 2026 forecasts of 1% Adjusted EBITDA growth is conservative and leaves room for the company’s promising new releases and astragon’s expected return to growth to drive potential earnings outperformance. Despite these potential positive catalysts in H2 and the company’s relatively attractive risk profile, its shares trade only in line with peer group average multiples, leading us to reiterate our Buy recommendati ....
