Huuuge Inc. – Analytical report

Since our last recommendation, the share price has risen by more than 25%, and the company has reported a smaller drop in revenue than we expected and attempts to enter the iGaming market. These are still too superficial changes to induce us to move away from the thesis of a continuation of the downward trend in revenues, but sufficient to reduce the pace of the expected loss, which resulted in an increase in our earnings forecast. Therefore, despite the negative impact of the strengthening of the PLN against the USD, we raised the valuation from PLN 25.4 to PLN 27.8 per share and maintained the BUY recommendation. At the same time, we are starting the company's analytical coverage under the WSE Analytical Coverage Support Program. Improved performance above expectations