---
title: "Buy Rating Reiterated on Games Workshop as Warhammer IP Momentum Builds; Price Target Maintained at $21,850"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/289555645.md"
description: "Jefferies analyst Andrew Wade reiterated a Buy rating on Games Workshop, maintaining the price target at $21,850. The recommendation is driven by strong momentum in the Warhammer IP and licensing revenue potential. Specifically, early demand indicators for the upcoming 'Total War: Warhammer 40,000' game suggest robust interest, which is expected to expand the global audience and enhance revenues, supporting the positive outlook."
datetime: "2026-06-12T06:25:31.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/289555645.md)
  - [en](https://longbridge.com/en/news/289555645.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/289555645.md)
generator: "portal-rs"
---

# Buy Rating Reiterated on Games Workshop as Warhammer IP Momentum Builds; Price Target Maintained at $21,850

Andrew Wade, an analyst from Jefferies, maintained the Buy rating on Games Workshop. The associated price target remains the same with p21,850.00.

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Andrew Wade has given his Buy rating due to a combination of factors that underline Games Workshop’s strengthening intellectual property and licensing momentum. He views the upcoming ‘Total War: Warhammer 40,000’ title as a powerful catalyst, noting that early demand indicators such as strong Steam wishlist activity point to robust interest from the strategy gaming community and a successful mid‑2027 launch window.

Wade expects this game to materially enhance Games Workshop’s licensing revenues while also expanding the global audience engaging with the Warhammer universe, reinforcing it as a premier entertainment franchise. In his view, the sustained monetization of Warhammer as a top‑tier IP, combined with the excitement and visibility generated by this high‑profile release, supports maintaining a Buy recommendation and keeping the price target unchanged at $21850.

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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**