Friday, 17 November, 2017

Shore Capital Reaffirms Buy Rating for Ladbrokes Coral Group PLC (LAD)

Ladbrokes Ladbrokes
Noah Ferguson | 14 November, 2017, 18:34

They presently have a GBX 170 ($2.16) target price on the casino operator's stock. Ladbrokes Coral Group PLC has a 12-month low of GBX 110.30 ($1.45) and a 12-month high of GBX 139.30 ($1.83). This rating was disclosed in analysts report on 13 November. The company now has a consensus rating of "Buy" and a consensus target price of GBX 159.80 ($2.10). Ladbrokes Coral Group Plc's 50-day average is 122.51GBX and its two hundred day moving average is 121.61GBX. The firm has "Buy" rating given on Tuesday, January 24 by UBS. Canaccord Genuity maintained the shares of LCL in report on Friday, July 28 with "Buy" rating.

Numis left its rating at "hold" and target price at 141p, saying: "With uncertainty surrounding the profitability of Ladbroke's United Kingdom retail estate (54% of group revenue with gaming machines more than half of this) not expected to be resolved before Spring 2018, we retain our cautious stance". Berenberg maintained the shares of LCL in report on Tuesday, September 5 with "Buy" rating. The correct version of this piece can be viewed at https://weekherald.com/2017/11/13/shore-capital-reaffirms-buy-rating-for-ladbrokes-coral-group-plc-lcl.html.

Shares edged down 1.97% to 134.20p in morning trading. It has underperformed by 16.70% the S&P500. And while the digital business recorded a double-digit jump over the period, revenues at the retail stores fell by 1% as like-for-like revenue from betting machines came in flat. Ladbrokes Coral governance details that it has moved to strengthen racing content within its United Kingdom betting estates by agreeing on a new content deal with The Racing Partnership.

Ladbrokes Coral, which has more than 30 stores here operating under Northwest Bookmakers, was created from the £2.3 billion merger of Ladbrokes and Gala Coral. It now has negative earnings. The UK Retail segment consists of betting activities in the shop estate in Great Britain. Also Seekingalpha.com published the news titled: "Ladbrokes Coral Group's (LDBKF) CEO Jim Mullen on Q2 2017 Results - Earnings ..." on August 31, 2017. Marketwatch.com's news article titled: "133.00" with publication date: November 04, 2016 was also an interesting one.

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