Citi raises target for Evolution stock to SEK 820

Published on 10/14/2026 at 09:26 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Citi lifted its target from SEK 725 to SEK 820 on October 13, 2026. Evolution stock costs EUR 71.77 on October 14, 2026, versus a EUR 71.74 bid.

Target raised ahead of results

Citi lifted its Evolution target from SEK 725 to SEK 820 on October 13, 2026.
Evolution reported EUR 517.8 million in net revenue for the second quarter of 2026.
Evolution stock traded at EUR 71.77 at 9:18 a.m. CEST at Lang & Schwarz on October 14, 2026.
Evolution announced 447,327 repurchased shares on October 12, 2026.

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Evolution (ISIN SE0012673267) traded at EUR 71.77 at Lang & Schwarz at 9:18 a.m. CEST on October 14, 2026. According to Börskollen on October 13, 2026, Citi raised its Evolution target from SEK 725 to SEK 820 while keeping a neutral recommendation.

Target rises before October results

Citi's update came ahead of Evolution's interim report for January through September 2026, scheduled for October 23, 2026. The report also said Citi expected live casino revenue to grow 4 percent in the third quarter after a 4 percent decline in the previous quarter, while RNG revenue was projected to rise 9 percent.

The forecast puts execution under the microscope. Citi estimated an EBITDA margin of 64.40 percent including one-time costs and 66.30 percent excluding them, compared with 65.90 percent in the previous quarter, according to Placera.

What does the target change mean

The higher target is paired with a cautious rating and a mixed operating picture. In the second quarter of 2026, Evolution reported EUR 517.8 million in net revenue, down 1.20 percent year over year but up 0.90 percent quarter over quarter, while EBITDA reached EUR 341.0 million and the margin was 65.90 percent, according to Yahoo Finance.

Three dated company developments

On July 17, 2026, the second-quarter presentation highlighted EUR 251.4 million in profit for the period and 14 percent year-over-year RNG growth, according to Yahoo Finance. On September 22, 2026, shareholders approved cancellation of up to 19,922,661 treasury shares, according to Nasdaq. On October 12, 2026, Evolution disclosed purchases of 447,327 own shares during October 5 through October 9, according to Evolution.

Dates investors can quantify

Evolution's next interim report is scheduled for October 23, 2026, followed by the annual report on February 4, 2027, according to the company's investor calendar. The sequence gives the October report a clear test: whether the projected 4 percent live casino recovery and 9 percent RNG growth can offset the second-quarter revenue decline.

Stock price and company scale

Evolution traded at EUR 71.77 at Lang & Schwarz on October 14, 2026 at 9:18 a.m. CEST. On Nasdaq Stockholm, the primary listing uses ticker EVO, and the latest structured quote showed SEK 797.40 at 9:24 a.m. CEST, with a market capitalization of SEK 151.9 billion and a 52-week range of SEK 515.40 to SEK 911.00. The further course of trading is shown by the continuously updated real-time quote of Evolution stock.