11 Jan 2016 13:46
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Don't have an account? Click here to register.Citigroup upgrades Ladbrokes, says shares have fallen far enough
Tue, 13th Oct 2015 14:01
(ShareCast News) - Citigroup upgraded Ladbrokes to 'neutral' from 'sell' and raised its price target to 110p from 100p, saying the shares have now fallen far enough.It said the new target price represents the mid-point between the upside potential it sees under a deal scenario and the downside risk under a no-deal scenario.Citi estimated the share price upside potential from a merger with Gala Coral at around 30% and the downside risk if no deal emerged also at around 30%."The competition authority investigation will rumble on for several more months, dampening any need to take a strong view in the shorter term," the analysts said.Citi added that the two key catalysts that could drive a more positive view were trading updates citing an online pick-up, with a rise in active customers and net gaming revenues, and CMA deal clearance arriving earlier than the bank's mid-2016 expectation.At 1407 BST, Ladbroke shares were down 0.8% at 105.10p.
More News
7 Jan 2016 10:49
Thursday newspaper share tips: Falling oil prices threaten BHP Billiton's strategy
(ShareCast News) - Falling oil prices are threatening BHP Billiton's strategy to diversify into oil and gas, The Telegraph's Questor wrote on Thursday. Oil prices have been plummeting amid geopolitical flare-ups in the Middle East and oversupply concerns continuing to dominate market sentiment. Que
Read more21 Dec 2015 08:11
11 Dec 2015 07:21
Ladbrokes announces acting CFO to cover ahead of Coral merger
(ShareCast News) - Ladbrokes has appointed Richard Snow as acting chief financial officer. The FTSE 250 company announced in September that Ian Bull who currently holds the post, will leave the company in February. Snow, who is director of investor relations, will hold the post until the proposed m
Read more11 Dec 2015 07:12
London pre-open: Stocks seen lower on negative Asian cues
(ShareCast News) - London stocks are called to open lower on Friday, taking their cue from a downbeat session in Asia. Shares in China and Hong Kong slid as the yuan hit its lowest level in four years. The FTSE 100 is expected to open 21 points lower than Thursday's close at 6,067. On the data fro
Read more10 Dec 2015 15:43
Ladbrokes' new chair and director bet on company
(ShareCast News) - Ladbrokes' new chariman and newest board member are already giving their financial backing to the company. John Kelly was appointed chairman of the company at the beginning of December, replacing Peter Erskine who announced his intention to step down in May. He will also become c
Read more4 Dec 2015 07:43
Ladbrokes appoints John Kelly as chairman ahead of Coral merger
(ShareCast News) - Ladbrokes has appointed John Kelly as the bookmaker's new chairman with immediate effect following the departure of Peter Erskine and ahead of the proposed merger with Coral Group. The appointment follows the announcement in May that Erskine intended to step down from the board th
Read more30 Nov 2015 08:23
Gala Coral revenue up ahead of Ladbrokes merger
(ShareCast News) - Gala Coral Group's full year revenue is up ahead of the proposed merger with Ladbrokes. The betting company released its full year results to 26 September 2015 on Monday. It showed a 6% increase in net revenue to just over £1bn, despite 2014 figures including the impact of the FI
Read more