Citi raises target to SEK 820 for Evolution stock ahead of results

Published on 10/15/2026 at 10:27 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Citi raised its target from SEK 725 to SEK 820 on October 13, 2026. Evolution stock trades at EUR 71.39 on October 15, 2026 during trading.

Analyst target and quarterly figures

Citi raised its Evolution target from SEK 725 to SEK 820 on October 13, 2026.
Second-quarter revenue reached MSEK 5,736 with a 57.5 percent operating margin.
Evolution stock trades at EUR 71.39 at 10:14 a.m. CEST at Lang & Schwarz on October 15, 2026.

Flatlay mit Aktienzertifikat, ISIN-Karte, Spielkarten, Chips und Würfeln — Evolution AB (SE0012673267) symbolisiert mit Aktienzertifikat, Spielkarten und Chips das börsennotierte Glücksspiel-Technologie-Unternehmen, Illustration mit AI erstellt.

Evolution (ISIN SE0012673267) trades at EUR 71.39 at Lang & Schwarz on October 15, 2026 at 10:14 a.m. CEST. Borskollen reported on October 13, 2026 that Citi raised its target from SEK 725 to SEK 820 and kept a neutral recommendation.

Citi sees recovery before results

Citi's October 13 analysis projected live-casino revenue growth of 4 percent in the third quarter, compared with a 4 percent decline in the preceding quarter. The same analysis projected 9 percent growth for random-number-generation games, while its group operating earnings margin estimate stood at 64.4 percent including one-time costs and 66.3 percent excluding them.

The estimates give the October 23 report a clear test. Citi placed its revenue forecast 1.5 percent above consensus but its operating earnings forecast 0.6 percent below consensus, according to Borskollen.

What does the margin say?

Evolution's second-quarter revenue was MSEK 5,736, while its operating margin was 57.5 percent, up from 57.0 percent in the first quarter, according to Affarsvarlden. The comparison matters because the analyst view depends on a recovery in live casino and continued scale in the slot portfolio.

Buyback adds a capital signal

Evolution acquired 447,327 shares between October 5 and October 9, 2026, bringing its treasury holding to 1,404,419 shares. The company said the program can reach 18,305,812 shares, equal to 10 percent of the outstanding total, in a release carried by MFN on October 12, 2026.

Next date for shareholders

Evolution lists October 23, 2026 as the date for its interim report covering January through September 2026. That report will show whether the forecast recovery has reached reported revenue and margins.

Stock and report in view

Evolution's market capitalization was SEK 152.7 billion on October 15, 2026. Its 52-week range was SEK 515.40 to SEK 911.00, placing the Lang & Schwarz euro indication below the upper end when viewed alongside the Stockholm listing.

Evolution was trading at EUR 71.39 at Lang & Schwarz on October 15, 2026 at 10:14 a.m. CEST.

The further course of trading is shown by the continuously updated real-time quote of Evolution stock.