Codere Online price target raised to $8 from $6 at Stifel

Stifel raised the firm’s price target on Codere Online to $8 from $6 and keeps a Buy rating on the shares. The company posted another healthy beat, with Net Gaming Revenue and adjusted EBITDA beating the firm’s expectations, the analyst tells investors. Looking ahead, sentiment on marketing and acquisition may dictate near-term performance, which can be challenging to predict, the firm adds. Overall, Stifel’s fundamental thesis remains intact and valuation remains reasonable.