Ladbrokes (OTCMKTS:LDCOY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Friday. The brokerage presently has a $2.75 price objective on the stock. Zacks Investment Research‘s target price would suggest a potential upside of 11.34% from the company’s previous close.
According to Zacks, “Hilton Group is a global company operating in the hospitality and betting markets with the leading brand names of Hilton and Ladbroke. The group intends to enhance shareholder value by maximising its prime position in these international markets both of which are expected to experience significant long-term growth. They have two operating divisions-Hilton International which owns the rights to the Hilton name outside the USA and Ladbrokes Betting and Gaming which is one of the world’s largest commercial off-track betting and gaming organisations. “
LDCOY has been the topic of a number of other reports. Goldman Sachs Group downgraded shares of Ladbrokes from a “buy” rating to a “neutral” rating in a research note on Tuesday, December 12th. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Ladbrokes in a research note on Friday, January 12th. Finally, Morgan Stanley reissued an “equal weight” rating on shares of Ladbrokes in a research note on Monday, January 8th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $2.75.
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Ladbrokes Coral Group plc, formerly Ladbrokes plc, is engaged in the betting and gaming industry. The Company’s segments are UK Retail, European Retail and Digital. The UK Retail segment consists of betting activities in the shop estate in Great Britain. The Company is involved in traditional over-the-counter betting on football, horse and greyhound racing, as well as other sports and by machines.
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