Is Bragg Gaming (BRAG) One of the Best Long Term Penny Stocks with Huge Upside Potential?

Bragg Gaming Group Inc. (NASDAQ:BRAG) is one of the best long term penny stocks with huge upside potential. On October 17, Citizens JMP downgraded Bragg Gaming to Market Perform from Outperform without a price target. This sentiment was announced as the firm noted that the company’s shares currently trade at a 0.5x discount to peers, given the uncertain outcome and EBITDA impact tied to the loss of a high-value customer (BetCity) and tax changes.

Is Bragg Gaming (BRAG) One of the Best Long Term Penny Stocks with Huge Upside Potential?

BetCity will have a material impact on the company’s revenue and a minor hit to EBITDA, but the timing is unknown. The firm sees risk to Bragg’s forward estimates and says the company should trade at a discount to the group. Citizens JMP views Bragg Gaming as fairly valued at current levels. Earlier on September 19, Citizens JMP analyst Jordan Bender reiterated a Buy rating on the company with a price target of $4.00.

Bragg Gaming Group Inc. (NASDAQ:BRAG) operates as an iGaming content and technology solutions provider serving online and land-based gaming operators with its proprietary and exclusive content.

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Disclosure: None. This article is originally published at Insider Monkey.