Evoke shares experienced notable declines as Deutsche Bank significantly adjusted its ratings and price targets for both UK gaming companies.

This adjustment is attributed to a more cautious outlook for the European gaming sector as it approaches 2026. Rank Group’s shares decreased by 4.07%, falling to 94.40p, while Evoke’s shares saw a sharper decline of 4.64%, settling at 28.8p.

This dip continues a challenging period for both organizations. Deutsche Bank has downgraded Rank Group from Buy to Hold and has revised its price target downward from 163p to 104p.

This change reflects a 36% reduction in the bank’s valuation and suggests limited growth potential at current trading levels. Evoke faced an even more drastic reassessment, with its rating lowered from Buy to Hold and its price target reduced from 108p to a mere 35p, marking a significant 68% cut.

This adjustment highlights growing concerns regarding the company’s short-term outlook. These downgrades are part of Deutsche Bank’s broader projections for European gaming stocks through 2026, indicating a trend of increasing caution across the sector.

Analysts at the bank seem to be preparing for a more difficult operating environment, influenced by regulatory pressures, consumer spending uncertainties, and evolving competitive dynamics that could hinder the industry’s growth potential.