(Sharecast News) - Analysts at ShoreCap upgraded their recommendation for shares of Frontier Developments from 'hold' to 'buy', telling clients that they were anticipating record sales over the 2023 financial year and a step-change in profitability.
Their new recommendation, they pointed out, also followed a downdraft that had seen the shares drop from about 1,400.0p in November to "just" 960.0p.
To them, that marked a "notable" discount to their favir value estimate of 1,350.0p - which was unchanged - and to its historical metrics " despite a larger profile of titles and an arguably more sophisticated model".
They were also anticipating improving margins and cash generation across their forecasted period which stretched out to FY2025.


(Alliance News) - Frontier Developments PLC on Wednesday reported an increase in annual earnings, hailing its focus on management simulation games, an...


(Sharecast News) - Frontier Developments said on Wednesday that its focus on creative management simulation games had delivered record annual profit a...


(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Thursday and not separately repor...


(Sharecast News) - Frontier Developments reported a return to profitability in the year ended 31 May on Wednesday, supported by strong sales from its ...


(Sharecast News) - Frontier Developments revealed on Tuesday that president David Braben had disposed of 15,000 ordinary shares in the AIM-listed vide...


(Sharecast News) - Frontier Developments revealed on Monday that president and founder David Braben had sold 28,400 ordinary shares in the London-list...


(Alliance News) - The following is a round-up of share dealings by London-listed company directors and managers announced in the past week and not sep...


(Sharecast News) - Frontier Developments revealed on Wednesday that president and founder David Braben had sold 8,000 ordinary shares in the London-li...


(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:


(Sharecast News) - Frontier Developments announced a £10m on-market share buyback programme on Tuesday, aimed at returning surplus capital to sha...