Lottomatica dropped 0,9% against a 3,82% drop in the Ftse Mib. The group limits its losses thanks to the positive opinion of the Japanese Nomura who confirmed the buy recommendation and improved the target price to 18,1 euros from 17,4. The investment bank estimates revenues for the second quarter to grow by 8,2% to 761 million euros and an ebitda of 273 million (+11,4%). Not only is Lottomatica on the road to beating the 2012 results guidance.
Among the reasons indicated by Nomura the improvement of the situation of the Italian market, the expectation for a double-digit growth of US lotteries and currency movements are favorable for the company's profits. In addition, last Friday the US subsidiary GTech extended its contract with the South Dakota Lottery by five years until August 2, 2019.
