Berenberg keeps Buy on Lottomatica stock with EUR 31.50 target

Published on 10/07/2026 at 10:09 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Adjusted EBITDA rose 10.00 percent to EUR 465.30 million in second-quarter 2026. Lottomatica stock costs EUR 24.84 on October 7, 2026 after EUR 24.82.

Lottomatica, IT0005541336, Illustration mit AI erstellt.

Lottomatica stock (ISIN IT0005541336) was trading at EUR 24.84 at Lang & Schwarz on October 7, 2026 at 10:03 a.m. CEST, plus 0.08 percent versus the prior close of EUR 24.82. According to Yahoo Finance on September 10, 2026, Berenberg reiterated its Buy recommendation and kept its price target at EUR 31.50.

Q2 EBITDA rose 10.00 percent

According to Quartr in its September 7, 2026 investor presentation summary, adjusted EBITDA reached EUR 465.30 million in the second quarter of 2026, up 10.00 percent, while the adjusted EBITDA margin was 39.40 percent.

The same Q2 2026 summary put net profit at EUR 116.00 million. These figures give the merger story an operating base, but the EBITDA increase and margin are adjusted metrics and should not be read as GAAP earnings.

Cirsa deal adds scale and execution risk

Lottomatica's proposed all-share combination with Cirsa is the central strategic backdrop to the analyst view. Yahoo Finance reported that Berenberg sees the transaction as strategically sensible, with Lottomatica retaining a 67.50 percent stake in the combined company and potential additional shareholder returns of EUR 247.00 million through 2030.

FinanzaOnline reported on September 7, 2026 that Banca Akros identified execution risks around the planned online EBITDA contribution of EUR 200.00 million to EUR 300.00 million at maturity. That range is the key counterweight to the EUR 31.50 target, which stands 26.81 percent above the Lang & Schwarz price of EUR 24.84.

Stock remains below its yearly high

The Lang & Schwarz price of EUR 24.84 on October 7, 2026 remains below the 52-week high of EUR 28.29 and above the 52-week low of EUR 18.66. Market capitalization was EUR 5.8 billion on October 7, 2026, while the primary listing is on Borsa Italiana under ticker LTMC.

MarketScreener lists the next earnings release for November 1, 2026, covering the third quarter of 2026. That date gives investors the next scheduled test of growth, margins and the financial integration case.

Price stays close to prior close

Lottomatica was trading at EUR 24.84 at Lang & Schwarz on October 7, 2026 at 10:03 a.m. CEST, plus 0.08 percent versus the Lang & Schwarz prior close of EUR 24.82. The further course of trading is shown by the continuously updated real-time quote of Lottomatica stock.