Ladbrokes Price Target Cut to GBX 150 by Analysts at Morgan Stanley (LAD)
Analysts at Morgan Stanley reduced their price target on shares of Ladbrokes (LON:LAD) from GBX 165 ($2.72) to GBX 150 ($2.47) in a research report issued to clients and investors on Monday, StockRatingsNetwork.com reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price objective points to a potential downside of 0.20% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Investec reiterated a “sell” rating on shares of Ladbrokes in a research note to investors on Friday. They now have a GBX 155 ($2.55) price target on the stock. Separately, analysts at Citigroup Inc. cut their price target on shares of Ladbrokes from GBX 140 ($2.31) to GBX 125 ($2.06) in a research note to investors on Friday. They now have a “sell” rating on the stock. Finally, analysts at Credit Suisse cut their price target on shares of Ladbrokes from GBX 170 ($2.80) to GBX 160 ($2.64) in a research note to investors on Friday. They now have an “underperform” rating on the stock. Seven research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have issued a buy rating to the stock. Ladbrokes currently has an average rating of “Hold” and an average target price of GBX 170.59 ($2.81).
Shares of Ladbrokes (LON:LAD) traded down 1.51% during mid-day trading on Monday, hitting GBX 150.30. The stock had a trading volume of 2,980,018 shares. Ladbrokes has a one year low of GBX 148.50 and a one year high of GBX 245.00. The stock’s 50-day moving average is GBX 170.6 and its 200-day moving average is GBX 185.. The company’s market cap is £1.376 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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