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On Friday, JPMorgan analysts initiated coverage on Baltic Classifieds Group PLC (LSE:BCG) with an Overweight rating and a price target of £4.32. The firm highlighted the company’s dominant position in the Baltic region’s online classifieds market, particularly in Estonia, Latvia, and Lithuania.
Baltic Classifieds Group is recognized as the leading platform in key verticals such as real estate, cars, jobs, and general goods. By facilitating transactions between individuals and businesses, the company has become a primary destination for those seeking automotive, real estate, jobs, services, and general merchandise transactions.
JPMorgan analysts anticipate the company will leverage its leadership position to drive growth. They project a 14% revenue compound annual growth rate (CAGR) from 2025 to 2028, alongside margin expansion contributing to a 15% EBITDA CAGR. Their estimates for 2025 and 2026 are slightly above current company consensus.
The analysts noted that while the company’s valuation is high at 24.2 times the 2026 estimated EV/EBITDA, compared to the sector average of 18.4 times, they believe the premium is justified due to the company’s higher growth potential.
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