Esports investors who’ve been paying attention to the merger between Enthusiast Gaming (TSXV:EGLX) (OTC:EGHIF) and Aquilini GameCo have even more good news to get excited about.
In report published on Baystreet, leading financial services firm Canaccord Genuity set a target price for the newly formed Enthusiast Gaming at $3.60. Canacccord also has a speculative buy rating on EGLX stock.
Since the merger, Enthusiast Gaming has become one of the largest video game and esports companies in the world. Its platform includes more than 85 gaming related websites such as The Escapist, Daily Esports, Destructoid, Operation Sports, Nintendo Enthusiast, and The Sims Resource.
Between its websites and its Twitch and YouTube channels, Enthusiast Gaming collectively reaches more than 150 million monthly visitors. Its esports division, Luminosity Gaming, consists of eight professional esports teams and over 50 gaming influencers with a total audience of 60 million followers.
On September 9, EGLX was worth $2.70 on the TSX Venture Exchange, which it’s been trading on since September 6th. The company has a market capitalization of $180.64 million and a year-low of C$0.67 with a year-high of C$2.85.