Jefferies hikes Games Workshop price target, shares jump

(Sharecast News) - Miniature wargames manufacturer Games Workshop surged on Wednesday after Jefferies hiked its price target on the stock to 18,300p from 11,850p and reiterated its 'buy' rating as it highlighted a "major opportunity". "Although the success of Space Marine 2 (SM2) means GAW is set to report a year of profit decline in FY26, we think the consistent underlying growth trajectory in the Core (10yr/5yr CAGR +17%/+16%) underpins a reacceleration to double-digit profit growth in FY27," the bank said.

Further out, Jefferies sees SM2 as an indicator of Warhammer's "significant" mass-market potential and said it remains bullish about the opportunity presented by the Amazon TV series.

At 1115 GMT, the shares were up 5.6% at 16,267.66p.