UK's Games Workshop slips as Peel Hunt downgrades to 'add', tariff hit looms

Games Workshop

23/05/2025 08:51

**  British miniature wargames maker Games Workshop GAW.L  down ~4.2% at 15,200p

** Peel Hunt downgrades stocks to "add" from "buy", but raises PT to 16,500p from 15,000p

** Brokerage expects tariffs to cost around 10 million pounds, but this impact will likely be reduced over time

** Adds, co is unlikely to adjust its pricing policies materially

** On Friday, co said it expects core operating profit for the year ending June 2025 to be 18.3% higher than a year earlier, as it benefits from robust demand for its popular "Warhammer 40K" series

** "We expect the strong performance to be broadly based across both channels and geographies" - Peel Hunt

** Avg rating of 3 analysts is "strong buy"; median PT 16,500p— data compiled by LSEG

** Up to last close, GAW stock had risen 14.7% YTD

(Reporting by Akriti Shah in Bengaluru)

((akriti.shah@thomsonreuters.com))