OPRA - Opera: New Catalysts And Hidden Asset Emerge [Upgrade]

2024-03-15 17:44:34 ET

Summary

• Opera reported strong Q4 results, as it continues to benefit from the shift to users in more developed nations.
• The company's Opera GX browser is performing well, helping drive users and ARPU gains.
• The opening up of Apple's iOS in the EU presents a nice opportunity for Opera.

Back in June , I placed a "Buy" rating on Opera ( OPRA ), highlighting the company's shift to focus on higher-valued users and developed markets. More recently in December, I said that the stock looked to be trading on technicals and that the story remained solid despite its recent weakness. The stock is about breakeven since my original write-up and up over 30% since my most recent write-up.

Given its strong performance, A pple ( AAPL ) opening up its system in Europ e, and the emergence of OPay (an investment whose value was just considerably marked up), I'm going to upgrade the stock to "Strong Buy."...

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