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Edison Initiates Coverage on Keywords Studios
LONDON, April 14, 2015 /PRNewswire/ --
Edison Investment Research, a leading international investment research
firm, announces the initiation of full coverage of Keywords Studios
Highlights of the analysis on Keywords Studios by Edison's technology analysts Tom
Grady and Eric Opara are as follows:
Keywords Studios provides localisation, testing, artwork and community support
services exclusively to the video games industry. It provides services to 20 of the top 25
games developers and is looking to consolidate the currently fragmented industry.
Keywords trades on an EV/EBIT of 10.3x FY15e. This is below the peer group median. We
believe that given the company's high earnings visibility and attractive growth profile,
its multiple is unjustifiably low even after considering its relatively small size. We
believe that the company can reasonably grow revenue at double digits for the next three
to four years. The biggest positive share driver is likely to come from evidence that the
multi-service expansion is leading to increased penetration among its customers via the
significant opportunity to cross-sell.
To download this report, please click here
[http://www.edisoninvestmentresearch.com/research/report/keywords-studios ].
All reports published by Edison are available to download free of charge from its
website http://www.edisongroup.com [http://www.edisoninvestmentresearch.com ].
About Edison: Edison, the investment intelligence firm, is the future of investor
interaction with corporates. Our team of over 100 analysts and investment professionals
works with leading companies, fund managers and investment banks worldwide to support its
capital markets activity. We provide services to more than 400 retained corporate and
investor clients from our offices in London, New York, Frankfurt, Sydney and Wellington.
Edison is authorised and regulated by the Financial Conduct Authority (
http://www.fsa.gov.uk/register/firmBasicDetails.do?sid1584).
Edison is not an adviser or broker-dealer and does not provide investment advice.
Edison's reports are not solicitations to buy or sell any securities.
Contact details: Learn more at http://www.edisongroup.com and connect with Edison
on:
LinkedIn http://www.linkedin.com/company/edison-investment-research
Twitter http://www.twitter.com/Edison_Inv_Res
YouTube http://www.youtube.com/edisonitv
For more information please contact:
Tom Grady Edison Investment Research +44-(0)20-3077-5767
Eric Opara Edison Investment Research +44-(0)20-3681-2524
tech@edisongroup.com
Edison Investment Research
Edison Initiates Coverage on Keywords Studios
LONDON, April 14, 2015 /PRNewswire/ --
Edison Investment Research, a leading international investment research
firm, announces the initiation of full coverage of Keywords Studios
Highlights of the analysis on Keywords Studios by Edison's technology analysts Tom
Grady and Eric Opara are as follows:
Keywords Studios provides localisation, testing, artwork and community support
services exclusively to the video games industry. It provides services to 20 of the top 25
games developers and is looking to consolidate the currently fragmented industry.
Keywords trades on an EV/EBIT of 10.3x FY15e. This is below the peer group median. We
believe that given the company's high earnings visibility and attractive growth profile,
its multiple is unjustifiably low even after considering its relatively small size. We
believe that the company can reasonably grow revenue at double digits for the next three
to four years. The biggest positive share driver is likely to come from evidence that the
multi-service expansion is leading to increased penetration among its customers via the
significant opportunity to cross-sell.
To download this report, please click here
[http://www.edisoninvestmentresearch.com/research/report/keywords-studios ].
All reports published by Edison are available to download free of charge from its
website http://www.edisongroup.com [http://www.edisoninvestmentresearch.com ].
About Edison: Edison, the investment intelligence firm, is the future of investor
interaction with corporates. Our team of over 100 analysts and investment professionals
works with leading companies, fund managers and investment banks worldwide to support its
capital markets activity. We provide services to more than 400 retained corporate and
investor clients from our offices in London, New York, Frankfurt, Sydney and Wellington.
Edison is authorised and regulated by the Financial Conduct Authority (
http://www.fsa.gov.uk/register/firmBasicDetails.do?sid1584).
Edison is not an adviser or broker-dealer and does not provide investment advice.
Edison's reports are not solicitations to buy or sell any securities.
Contact details: Learn more at http://www.edisongroup.com and connect with Edison
on:
LinkedIn http://www.linkedin.com/company/edison-investment-research
Twitter http://www.twitter.com/Edison_Inv_Res
YouTube http://www.youtube.com/edisonitv
For more information please contact:
Tom Grady Edison Investment Research +44-(0)20-3077-5767
Eric Opara Edison Investment Research +44-(0)20-3681-2524
tech@edisongroup.com
Edison Investment Research