Less Ads, More Data, More Tools Register for FREE

Pin to quick picksLAD.L Share News (LAD)

  • There is currently no data for LAD

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Credit Suisse upgrades bookies William Hill and Ladbrokes

Tue, 12th Jan 2016 12:25

(ShareCast News) - Credit Suisse upgraded William Hill to 'outperform' from 'neutral' and lifted the price target to 500p from 420p, saying the cash return story was as attractive as M&AThe bank said it disagrees that William Hill is being left behind by ongoing industry consolidation, and reckons it will continue to be competitive.In addition, it said the group is now in a position to re-leverage the balance sheet and return cash to shareholders.CS thinks William Hill could return 39% of its market capitalisation to shareholders over the next three years, with only 2.5x leverage.It added that William Hill is in a strong position heading into this year, with the wider industry benefiting from the European Championships and weak comparatives."Furthermore, while peers are focused on integration, William Hill's management can focus on taking market share. We see the potential for significant cash returns to lead to a re-rating for the stock."The bank also upgraded its stance on peer Ladbrokes, to 'neutral' from 'underperform', raising the price target to 130p from 85p, pointing to upside potential post-merger from a digital recovery and cost synergies.Credit Suisse said the resultant company from the merger with Coral will have a better earnings mix and the bank forecasts stronger medium-term earnings growth, albeit with a little initial disruption from integration.CS sees £76m in gross synergies and net synergies of £34m."Given the likely disruption from the integration of the businesses and shop divestments, we do not forecast a meaningful improvement in earnings until 2018, but on a medium-term view, are very positive on the combined entity compared to standalone Ladbrokes."If, however, a deal does not occur, it sees significant downside potential to the stock.At 1234 GMT, William Hill shares were up 0.7% to 379.30p while Ladbrokes was up 2.6% to 122.84p.
More News
13 Oct 2015 16:41

Broker tips: Jupiter Fund Management, Ladbrokes, GSK

(ShareCast News) - RBC Capital Markets has upgraded Jupiter Fund Management as it believes current forecasts underestimate the group's inflows and capital returns. After Monday's trading update, RBC's new 'outperform' rating, up from the previous 'sector perform', is accompanied by a 3% increase in

Read more
13 Oct 2015 14:01

Citigroup upgrades Ladbrokes, says shares have fallen far enough

(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

Read more
13 Oct 2015 09:49

Tuesday broker round-up

(ShareCast News) - Ladbrokes: Citigroup upgrades to neutral, raises target price to 110.00p. Jupiter Fund Management: RBC Capital Markets upgrades to outperform, bumps up target price to 475.00p. Jefferies reiterates to buy, lifts target price to 493.00p. Glaxosmithkline: JP Morgan Cazenove upgrade

Read more
13 Oct 2015 08:43

BROKER RATINGS SUMMARY: Citi Cuts AB Foods As UBS Raises Smiths Group

Read more
13 Oct 2015 07:17

LONDON BRIEFING: SABMiller Succumbs To AB InBev To Create Beer Giant

Read more
9 Oct 2015 07:21

Ladbrokes completes Coral merger financing

(ShareCast News) - Ladbrokes has signed a £1.35bn facility to provide financing for its proposed merger with Coral. The new facility for the FTSE 250 company is with a syndicate of relationship banks and has three tranches available for drawing once the merger is completed. The three tranches inclu

Read more
9 Oct 2015 06:36

Ladbrokes Signs GBP1.35 Billion Facility To Finance Gala Coral Merger

Read more
8 Oct 2015 16:22

London close: Stocks rise after BoE and ECB meeting minutes

(ShareCast News) - UK stocks gained after the Bank of England decided to keep interest rates unchanged and the European Central Bank suggested it might consider further stimulus. The BoE's Monetary Policy Committee voted 8-1 to maintain rates at 0.50% and its asset purchase programme at £375bn, as e

Read more
8 Oct 2015 11:07

London midday: Stocks rise as BoE votes to keep interest rates unchanged

(ShareCast News) - London stocks recovered slightly from losses earlier on Thursday as the Bank of England decided to keep interest rates unchanged. The BoE's Monetary Policy Committee voted 8-1 to maintain rates at 0.50% and its asset purchase programme at £375bn, as expected by analysts. Ian McCaf

Read more
8 Oct 2015 08:31

London open: Stocks fall ahead of BoE, ECB and Federal Reserve meeting minutes

(ShareCast News) - The FTSE fell on Thursday morning on uncertainty ahead of policy details from the central banks of the UK, US and Europe. The Bank of England will at 1200 BST release its latest policy decision with analysts expecting no change to interest rates or the asset purchase programme. An

Read more
8 Oct 2015 07:59

Ladbrokes names Kristof Fahy new chief marketing officer

(ShareCast News) - Ladbrokes has appointed Kristof Fahy as chief marketing officer to lead all brand and marketing activity across digital and retail. Fahy will join the company from Telegraph Media, where he is chief marketing officer responsible for marketing and digital acquisition. Prior to that

Read more
8 Oct 2015 06:36

Ladbrokes Appoints Former William Hill Marketing Chief To Same Role

Read more
17 Sep 2015 15:09

Dividends Calendar - Week Ahead

Read more
16 Sep 2015 07:36

Ladbrokes CFO Ian Bull to step down in February 2016

(ShareCast News) - Ladbrokes' chief financial officer, Ian Bull, is leaving the company ahead of its merger with Gala Coral. Ladbrokes said Bull, who joined the business as CFO in July 2011, has agreed to stay on until the announcement of the 2015 full-year results scheduled for the end of February.

Read more
16 Sep 2015 06:27

Ladbrokes CFO Ian Bull To Step Down Following Merger With Gala Coral

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.