09:25 AM EDT, 04/27/2026 (MT Newswires) -- Berenberg maintained Entain's (ENT.L) buy rating and price target of 12 pounds sterling after the sports betting and gaming company reported its first-quarter results.

"Entain's Q1 results were mixed, with a solid performance in the ex-US business but a downgrade in guidance from BetMGM for the first time in a while. However, we do not regard this as a cause for concern, and continue to believe that BetMGM is well placed in the US, particularly in iGaming. In the ex-US business, the Online growth is encouraging, especially given the strength of growth in the UK and Australia, and the current valuation is unreflective of this,"analysts said in a Monday note.

The research firm also noted that the new guidance, which it said is prudent amid higher competition, led to slightly lowered sales, EBITDA and EPS estimates for 2026. Its projections for 2027 and 2028 are broadly unchanged.

Berenberg also flagged a possible "material re-rating"for the company, subject to the delivery of its targets and on the back of the growth it logged over the recent quarters.