Investec Reiterates Hold Rating for Ladbrokes (LAD)
Ladbrokes (LON:LAD)‘s stock had its “hold” rating restated by stock analysts at Investec in a report issued on Tuesday, AnalystRatingsNetwork reports. They currently have a GBX 160 ($2.57) price target on the stock, down from their previous price target of GBX 200 ($3.21). Investec’s price objective indicates a potential downside of 5.49% from the stock’s previous close.
Several other analysts have also recently commented on the stock. Analysts at Jefferies Group downgraded shares of Ladbrokes from a “buy” rating to a “hold” rating in a research note to investors on Tuesday. They now have a GBX 170 ($2.73) price target on the stock, down previously from GBX 230 ($3.69). Separately, analysts at Citigroup Inc. reiterated a “sell” rating on shares of Ladbrokes in a research note to investors on Monday. They now have a GBX 140 ($2.25) price target on the stock. Finally, analysts at Bank of America Corp. downgraded shares of Ladbrokes from a “buy” rating to a “neutral” rating in a research note to investors on Monday. They now have a GBX 175 ($2.81) price target on the stock, down previously from GBX 235 ($3.77). Six equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of GBX 175.44 ($2.81).
Shares of Ladbrokes (LON:LAD) opened at 168.40 on Tuesday. Ladbrokes has a one year low of GBX 165.40 and a one 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 £1.542 billion.
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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