Jefferies Group Downgrades Ladbrokes to Hold (LAD)
Ladbrokes (LON:LAD) was downgraded by stock analysts at Jefferies Group from a “buy” rating to a “hold” rating in a report issued on Tuesday, Analyst Ratings News reports. They currently have a GBX 170 ($2.73) price objective on the stock, down from their previous price objective of GBX 230 ($3.69). Jefferies Group’s target price indicates a potential downside of 5.45% from the company’s current price.
A number of other analysts have also recently weighed in on LAD. 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. Separately, 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). Finally, analysts at Canaccord Genuity reiterated a “hold” rating on shares of Ladbrokes in a research note to investors on Friday, October 4th. They now have a GBX 190 ($3.05) price target on the stock. Six equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have issued a buy rating to the company’s stock. Ladbrokes has a consensus rating of “Hold” and a consensus target price of GBX 175.44 ($2.81).
Ladbrokes (LON:LAD) traded up 6.39% on Tuesday, hitting GBX 179.80. 51,880,060 shares of the company’s stock traded hands. 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 £1.646 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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