Ladbrokes Stock Rating Lowered by Barclays (LAD)
Ladbrokes (LON:LAD) was downgraded by research analysts at Barclays to an “underweight” rating in a report released on Thursday, American Banking News.com reports. They currently have a GBX 169 ($2.77) price objective on the stock, down from their previous price objective of GBX 188 ($3.08). Barclays’ price target suggests a potential upside of 0.75% from the stock’s previous close.
Ladbrokes (LON:LAD) traded down 6.65% during mid-day trading on Thursday, hitting GBX 167.75. 10,854,458 shares of the company’s stock traded hands. Ladbrokes has a 52 week low of GBX 165.40 and a 52 week high of GBX 245.00. The stock has a 50-day moving average of GBX 174.5 and a 200-day moving average of GBX 188.7. The company’s market cap is £1.536 billion.
Several other analysts have also recently commented on the stock. Analysts at JPMorgan Chase & Co. reiterated an “underweight” rating on shares of Ladbrokes in a research note to investors on Wednesday. They now have a GBX 140 ($2.30) price target on the stock. Separately, analysts at Investec cut their price target on shares of Ladbrokes from GBX 160 ($2.62) to GBX 155 ($2.54) in a research note to investors on Wednesday, December 18th. They now have a “sell” rating on the stock. Finally, analysts at Credit Suisse reiterated an “underperform” rating on shares of Ladbrokes in a research note to investors on Monday, December 9th. They now have a GBX 170 ($2.79) price target on the stock. Seven research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of GBX 175.84 ($2.88).
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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