Shares of an indie video game developer are expected to rise significantly, with one bank giving it huge potential upside.
Indie video game developer tinyBuild 's stock is set to go up by more than 200%, according to investment bank Berenberg. The analysts said the 2023 outlook for the London-listed company looked "very encouraging" following its record fourth-quarter earnings Monday. They also said the stock is set for a rebound after shares in the company fell by more than a third in the past month.
line It comes amid some investor concerns about a sector-wide slowdown following the pandemic. However, the Berenberg analysts think tinyBuild will likely deliver full-year earnings "firmly" within the consensus estimate of between $23 million and $26 million for 2022. The company's shares have fallen recently on concerns over the lackluster reaction to its latest game Hello Neighbour 2.
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