---
title: "Analyst Maintains Hold on Playtech as FY26 Earnings Forecasts Raised but $405 Price Target Left Unchanged Amid Legal Uncertainty"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/292688054.md"
description: "Jefferies analyst James Wheatcroft maintains a Hold rating on Playtech with an unchanged $405 price target. Despite raising FY26 earnings forecasts due to strong trading updates, the analyst cites non-recurring factors and ongoing U.S. legal disputes with Evolution as key uncertainties. These risks outweigh the company's attractive valuation of ~5x EV/EBITDA, justifying a neutral stance rather than a Buy."
datetime: "2026-07-15T00:05:29.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/292688054.md)
  - [en](https://longbridge.com/en/news/292688054.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/292688054.md)
generator: "portal-rs"
---

# Analyst Maintains Hold on Playtech as FY26 Earnings Forecasts Raised but $405 Price Target Left Unchanged Amid Legal Uncertainty

Jefferies analyst James Wheatcroft maintained a Hold rating on Playtech yesterday and set a price target of p405.00.

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James Wheatcroft has given his Hold rating due to a combination of factors, balancing improved fundamentals with lingering risks. He has raised his FY26 earnings expectations significantly following a strong recent trading update, but considers part of this improvement to be non-recurring, which tempers the long‑term uplift to his profit forecasts.

At the same time, he highlights that the ongoing U.S. legal dispute with Evolution creates a material layer of uncertainty that constrains conviction on the stock. Although Playtech’s valuation appears inexpensive at around five times enterprise value to EBITDA and his price target remains unchanged at $405, these legal and sustainability concerns justify maintaining a neutral stance rather than moving to a Buy rating.

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