BUZZ-Jefferies cuts Better Collective to 'hold' on core markets uncertainty
Jefferies cuts Better Collective's BETCO.ST rating to "hold" from "buy" on and uncertainty in two core markets
The broker expects two of the Denmark-based digital sports media group's largest and highest-growth markets, Brazil and North America, to face headwinds through 2025
Brazil changed its laws to be a regulated market, resulting in taxing Better Collective's revenue base at about 26%, Jefferies says
Jefferies also notes that the company expects EUR 20-30 million headwinds from increased competition and players account reactivation in Brazil
Better Collective is concerned about its 2025 performance in North America due to reduced marketing and high competition from dominant companies, adds Jefferies
The broker says re-emergence of positive trends in Brazil and North America is needed to attract investors again, which is not likely until 2026
Out of four analysts covering the share, one rates it "strong buy" and three rate it "hold," according to LSEG data
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