Investing.com - Berenberg has reiterated its Buy rating and £14.00 price target on Entain PLC (LON:ENT) (OTC:GMVHF), citing strong performance from its BetMGM joint venture with MGM Resorts.

The research firm noted that BetMGM has experienced a clear inflection in net gaming revenue (NGR) growth this year, which has driven more than $400 million in EBITDA improvement year-over-year.

Berenberg believes BetMGM's current guidance remains conservative and sees potential upside if revenue continues to outperform expectations.

The firm suggested that at Entain's current share price, the market is either valuing the US business at zero or significantly underappreciating the rest of the company's operations, which it considers unjustified.

Berenberg views the current prediction market and UK tax volatility as a buying opportunity for investors interested in Entain shares.

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