Ladbrokes Downgraded by Bank of America Corp. to Neutral (LAD)
Ladbrokes (LON:LAD) was downgraded by stock analysts at Bank of America Corp. from a “buy” rating to a “neutral” rating in a report issued on Monday, Analyst Ratings Network reports. They currently have a GBX 175 ($2.81) price target on the stock, down from their previous price target of GBX 235 ($3.77). Bank of America Corp.’s price target indicates a potential upside of 2.34% from the company’s current price.
Shares of Ladbrokes (LON:LAD) opened at 169.30 on Monday. Ladbrokes has a 1-year low of GBX 165.40 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 £1.550 billion.
LAD has been the subject of a number of other recent research reports. Analysts at Canaccord Genuity reiterated a “hold” rating on shares of Ladbrokes in a research note to investors on Friday. They now have a GBX 190 ($3.05) price target on the stock. Separately, analysts at AlphaValue reiterated an “add” rating on shares of Ladbrokes in a research note to investors on Thursday. They now have a GBX 199 ($3.19) price target on the stock. Finally, analysts at Nomura cut their price target on shares of Ladbrokes from GBX 165 ($2.65) to GBX 145 ($2.33) in a research note to investors on Tuesday, October 1st. They now have a “reduce” rating on the stock. Six investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of GBX 182.11 ($2.92).
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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