Equita raises target for Lottomatica stock to EUR 36.00

Published on 10/19/2026 at 10:09 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Equita lifted its target from EUR 31.00 to EUR 36.00 on September 23, 2026. Lottomatica stock costs EUR 23.82, 1.20 percent below Xetra close.

Analyst view and trading context

Equita raised its target from EUR 31.00 to EUR 36.00 on September 23, 2026.
Second-quarter 2026 revenue was EUR 578.15 million versus EUR 579.38 million expected.
Lottomatica stock trades at EUR 23.82 at 10:04 a.m. CEST at Lang & Schwarz on October 19, 2026, 1.20 percent below the Xetra close of October 16, 2026.
The company scheduled its 9M 2026 earnings call for November 3, 2026.

Lottomatica, IT0005541336, Illustration mit AI erstellt.

Lottomatica (IT0005541336) was trading at EUR 23.82 at Lang & Schwarz on October 19, 2026 at 10:04 a.m. CEST, down 1.20 percent versus the Xetra close of October 16, 2026 at EUR 24.11. The latest analyst catalyst came on September 23, 2026, when Repubblica reported that Equita raised its target from EUR 31.00 to EUR 36.00 and kept a Buy recommendation.

Equita prices the Cirsa combination

Equita's new target reflects the proposed combination with Cirsa and uses combined 2029 projections, according to the September 23 report. The analysis applied a target adjusted price-to-earnings multiple of 13.00, down from 14.00, to reflect execution risk, overhang and greater exposure to emerging markets.

The same analysis estimated cost synergies of EUR 115.00 million by 2030. It put adjusted earnings-per-share accretion from cost synergies at 23.00 percent to 28.00 percent for 2029-2030, rising to 28.00 percent to 39.00 percent when revenue synergies were included.

Three dated steps shaped the story

On July 28, 2026, Lottomatica reported second-quarter revenue of EUR 578.15 million against a EUR 579.38 million forecast, a shortfall of 0.21 percent, according to Investing.com. On September 2, 2026, the company announced its all-share combination with Cirsa, valued at EUR 2.80 billion to EUR 3.00 billion, according to Mitchell Lake. On September 23, 2026, Equita lifted its target to EUR 36.00 from EUR 31.00.

What dates matter next?

Lottomatica's investor-relations page lists November 3, 2026 for the earnings call on nine-month 2026 results. That report will test whether the operating performance can support the valuation case built around Cirsa synergies.

Valuation meets a weaker session

The EUR 36.00 target is 51.13 percent above the Lang & Schwarz price, while the current euro quote sits below the Xetra close. For investors, the next result matters because the target thesis depends on integration execution and quantified synergies.

Lottomatica was trading at EUR 23.82 at Lang & Schwarz on October 19, 2026 at 10:04 a.m. CEST, minus 1.20 percent versus the Xetra close of October 16, 2026 at EUR 24.11. The further course of trading is shown by the continuously updated real-time quote of Lottomatica stock.