Betfair Group Price Target Raised to GBX 1,260 at Morgan Stanley (BET)
Equities researchers at Morgan Stanley hoisted their target price on shares of Betfair Group (LON:BET) from GBX 1,150 ($19.33) to GBX 1,260 ($21.18) in a research report issued on Thursday. The firm currently has an “overweight” rating on the stock. Morgan Stanley’s price target would indicate a potential upside of 22.09% from the stock’s previous close.
Betfair Group (LON:BET) traded up 0.87% during mid-day trading on Thursday, hitting GBX 1041.00. The stock had a trading volume of 75,247 shares. Betfair Group has a one year low of GBX 805.00 and a one year high of GBX 1179.00. The stock has a 50-day moving average of GBX 983.1 and a 200-day moving average of GBX 1043..
The company also recently declared a dividend, which is scheduled for Friday, October 3rd. Investors of record on Wednesday, September 3rd will be given a dividend of GBX 14 ($0.24) per share. This represents a yield of 1.35%. The ex-dividend date of this dividend is Wednesday, September 3rd.
Several other analysts have also recently commented on the stock. Analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Betfair Group in a research note on Thursday. Separately, analysts at Panmure Gordon reiterated a “buy” rating on shares of Betfair Group in a research note on Wednesday. They now have a GBX 1,317 ($22.14) price target on the stock. Finally, analysts at Oriel Securities Ltd reiterated a “hold” rating on shares of Betfair Group in a research note on Wednesday. Eight equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of GBX 1,152.90 ($19.38).
Betfair Group plc is an online betting and gaming operator. The Company’s segments include Core Betfair, which includes Exchange, Sports, Gaming and Management of customer funds; Other investments, which includes Betfair US, and High Rollers.