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Broker Tips: ITV, Sky, Ladbrokes, William Hill, Hiscox

Tue, 14th Jul 2015 11:22

(ShareCast News) - ITV was under the cosh in early trading after Deutsche Bank downgraded the stock to 'sell' from 'hold'.The broker said the UK broadcasting market has been "kind" to ITV, noting that Channel 5 had its programming budget slashed and Channel 4 has focused on its public service remit and lost its most commercial series. However, this isn't for much longer, said DB."We find the upside case of retransmission fees, Liberty takeout and cash returns/dividends unconvincing," said the bank.The bank also noted that five years into the 2010 turnaround plan to reinvigorate ITV Studios, growth is still mainly coming from acquisitions, with true organic growth less than 4%.Deutsche Bank upgraded their rating for Sky from 'hold' to 'buy' and raised estimates for 2017 by 20% more than consensus.In a note to clients, Deutsche Bank said the FSTE 250 firm was the best positioned in Europe to capitalise on growth areas related to online video.Deutsche Bank moved its price target for the stock from 1,000p to 1500p, and said Sky had underperformed against its media peers.London-listed bookmakers Ladbrokes and William Hill were feeling the pinch in early trade after downgrades by Credit Suisse.The bank cut its stance on Ladbrokes to 'underperform' from 'neutral' and reduced the target price to 85p from 115p. At the same time, it downgraded William Hill to 'neutral' from 'outperform' and cut the target to 420p from 455p."Between 2012 and 2015, changes in regulation in the UK have led to earnings downgrades of 28% for William Hill and 46% for Ladbrokes in 2015E. Despite this, consensus forecasts assume no further regulatory change," said CS.As far as regulator change is concerned, it reckoned headwinds are likely to continue in the medium term.Elsewhere, Credit Suisse downgraded Hiscox to 'underperform' from 'neutral' but raised its target price on the stock to 720p from 655p."Whilst we continue to believe that Hiscox's exposure to retail customers has the ability to offset partly the negative trends seen at peers, the group trades at an all-time high premium to peers which we struggle to justify," it said.The broker said Hiscox is a high-quality, low volatility and well-capitalised operator. Its differentiated product mix provides the group with higher growth prospects than peers as it seizes opportunities with retail clients, said CS.

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31 Oct 2016 09:39

BROKER RATINGS SUMMARY: HSBC Raises IAG To Hold From Reduce

26 Oct 2016 15:57

Ladbrokes-Coral merger wins final CMA approval with 322 shop disposals

(ShareCast News) - Ladbrokes and Coral will be able to complete their merger "in the very near future" after the competition regulator gave its final approval on Wednesday. After the Competition & Markets Authority gave its green light, the FTSE 250 bookmaker said it had approved the disposal of

21 Oct 2016 14:38

Daisy pulls sterling junk bond as investors get tough

By Robert Smith LONDON, Oct 21 (IFR) - Daisy called off an attempt to issue a sterling high-yield deal on Friday, in the latest sign of waning UK investor appetite for riskier debt in challenging sectors. The UK company threw in the towel on the debut bond after four days of marketing

18 Oct 2016 17:12

UPDATE 4-William Hill, Amaya drop short-lived gambling merger talks

* Talks abandoned less than two weeks after announcement * Sector consolidating as more gamblers go online * European rivals have already joined forces * Amaya FY revenue forecast below market expectations * Amaya shares drop 8.3 percent (Adds share move, Amaya spokesman

18 Oct 2016 13:24

RPT-UPDATE 3-William Hill, Amaya drop short-lived gambling merger talks

(Repeats for wider distribution, no changes to text) * Talks abandoned less than two weeks after announcement * Sector is consolidating as more gamblers go online * European rivals have already joined forces * Amaya FY revenue forecast below market expectations * Ama

18 Oct 2016 08:28

Ladbrokes revenue grows for fourth successive quarter

(ShareCast News) - FTSE 250 betting and gambling company Ladbrokes reported growth for a fourth successive quarter for revenue as it remains confident of delivering full year results in line with expectations. In a trading update for the third quarter ended 30 September, net revenue increased 12.1%,

18 Oct 2016 06:56

Tuesday newspaper round-up: Bonds, Shell, bookmaker levy, farm boost

(ShareCast News) - Investors dumped UK government bonds yesterday in one of the heaviest sell-offs since the Brexit vote as international demand for sterling assets declined rapidly. Overseas investors are becoming increasingly worried that inflation and a move by the Conservative government towards

17 Oct 2016 07:13

Ladbrokes and Coral announce planned sale of 359 shops

(ShareCast News) - Bookmaker Ladbrokes announced on Monday that subsidiaries of both itself and merger partner Gala Coral Group have agreed to sell a total of 359 licensed betting offices to Done Brothers Cash Betting - trading as Betfred - and StanJames Abingdon - trading as Stan James. The FTSE 25

17 Oct 2016 06:58

Monday newspaper round-up: New Brexit plans, dividends, supermarkets

(ShareCast News) - Britain would continue to pay billions of pounds into the EU budget after Brexit to maintain cherished single-market access for the City of London and other sectors under plans being discussed by Theresa May's cabinet. The prime minister's demand that Britain controls its borders

17 Oct 2016 06:20

Ladbrokes, Gala Coral to sell 359 shops ahead of merger

LONDON, Oct 17 (Reuters) - British Ladbrokes and Gala Coral said they agreed to sell 359 shops for 55.5 million pounds ($69 million) to rivals, in a deal which will reduce their footprint and pave the way for competition authorities to allow their merger to proceed. The pair were told in Ju

10 Oct 2016 07:49

BUZZ-William Hill: best day in 3 months after confirming merger talks

** William Hill rises 5.4 pct, its best day since mid-July, after confirming merger talks with Canada's Amaya ** Co says deal would create a global leader in sports betting, poker and casino ** Top riser on Stoxx 600 and most traded by average volumes - 1.5x 30-day average in the firs

7 Oct 2016 07:39

BUZZ-UK gambling companies lower after media reports of TV ad ban

** Shares in British gambling companies fall after The Times newspaper reports that the companies are due to be banned from advertising on television during the day ** William Hill down 2.9 pct, Labrokes down 2.5 pct vs. Britain's midcap index which is up 0.2 pct ** Cenkos analyst Sim

20 Sep 2016 06:57

Tuesday newspaper round-up: May in New York, Ladbrokes, building blocked

(ShareCast News) - Theresa May will canvass leading Wall Street banks over how Britain should structure its departure from the EU to reassure them that Brexit will not damage their UK business. Mrs May will meet "mostly" chief executives from the finance sector along with figures from the technology

31 Aug 2016 07:51

Gala Coral revenue up but losses widen

(ShareCast News) - Ladbrokes said on Wednesday that revenue at Gala Coral, with which it has agreed to merge, rose in the third quarter, but the bookmaker's loss widened due to exceptional costs. In the 12 weeks ended 2 July, net revenue at Gala Coral was up 10% from 2015 to £264m, while earnings be

26 Aug 2016 08:46

Ladbrokes given a boost by Berenberg upgrade

(ShareCast News) - Berenberg has raised its rating on Ladbrokes to 'buy' from 'hold' and lifted its target price to 185p from 130p, saying the company is its second favourite stock in gaming after Playtech. The broker said since it initiated on Ladbrokes a number of positives have materialised with

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Broker Tips: ITV, Sky, Ladbrokes, William Hill, Hiscox

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