Berenberg Revises Evolution AB Price Target, Estimates After "Mixed" Q2

05:43 AM EDT, 07/22/2026 (MT Newswires) -- Berenberg raised its price target for Evolution AB (EVO.ST) and made "marginal" adjustments to its earnings estimates after the Swedish gaming technology company reported "mixed" performance in the second quarter. "The company returned to qoq growth in Europe but faced a material decline in Asia, with the two regional performances offsetting each other to deliver EBITDA in line with consensus. We make small changes to our revenue and EBITDA estimates as a result," the research firm said in a Tuesday note. Berenberg also made upward adjustments to its EPS estimates for 2026 to 2028, while sales forecasts were "broadly unchanged." The stock's price target was increased to 600 kronor from 560 kronor. "As we look ahead, Evolution should be back into yoy revenue growth in H2 2026; however, we remain cautious regarding the softer performance in Asia, considering this region generates more than a third of the company's revenues," the note said. Evolution's hold rating was maintained.