Ladbrokes PT Lowered to GBX 150 (LAD)
Research analysts at JPMorgan Chase & Co. dropped their target price on shares of Ladbrokes (LON:LAD) from GBX 175 ($2.80) to GBX 150 ($2.40) in a report released on Friday, American Banking and Market News reports. The firm currently has an “underweight” rating on the stock. JPMorgan Chase & Co.’s price objective would indicate a potential downside of 12.64% from the company’s current price.
Ladbrokes (LON:LAD) traded down 1.21% on Friday, hitting GBX 171.70. 6,090,049 shares of the company’s stock traded hands. Ladbrokes has a 1-year low of GBX 169.90 and a 1-year high of GBX 245.00. The stock’s 50-day moving average is GBX 195.8 and its 200-day moving average is GBX 205.1. The company’s market cap is £1.572 billion.
A number of other analysts have also recently weighed in on LAD. Analysts at Morgan Stanley cut their price target on shares of Ladbrokes (LON:LAD) from GBX 215 ($3.44) to GBX 170 ($2.72) in a research note to investors on Friday. They now have an “equal weight” rating on the stock. Separately, analysts at Davy Research reiterated a “neutral” rating on shares of Ladbrokes (LON:LAD) in a research note to investors on Thursday. Finally, analysts at Panmure Gordon reiterated a “hold” rating on shares of Ladbrokes (LON:LAD) in a research note to investors on Thursday. They now have a GBX 188 ($3.01) price target on the stock. Six equities research analysts have rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of GBX 193.05 ($3.09).
Ladbrokes plc is engaged in betting and gaming. The Company operates in five segments: UK Retail, European Retail, Digital, Core Telephone Betting and High Rollers.
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