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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.

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17 Mar 2016 16:17

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16 Mar 2016 14:20

Ladbrokes, William Hill Up On Changes To Remote Gaming Duty Rules

16 Mar 2016 14:04

Shares in UK gambling groups rise as no new taxes unveiled in budget

LONDON, March 16 (Reuters) - Shares in British gambling companies such as Ladbrokes and William Hill rose on Wednesday, with traders citing relief that the British budget did not unveil any strict, new taxes on the sector. "No tax hikes, so positive for the sector," said Securequity sales

13 Mar 2016 15:18

Sunday newspaper round-up: Budget, Sainsbury's, Virgin Media, Reuters

(ShareCast News) - George Osborne look to grab as much as £20bn to fill shortfalls in his Budget this Wednesday, making deep cuts in public spending, an increased insurance premium tax and other new or increased duties and taxes, while also looking to cut taxes for North Sea oil producers. The Sunda

7 Mar 2016 20:40

Soccer-Leicester fan accepts 72,000 pounds offer on 5,000-1 bet

LONDON, March 7 (Reuters) - An anonymous gambler has pocketed 72,000 pounds ($102,715) after cashing in on a 50-pounds bet he wagered at the start of the season on Leicester City winning the Premier League at odds of 5,000-1. The Leicester fan decided to take the offer from a British bookma

4 Mar 2016 08:26

UBS downgrades William Hill amid increasing competition

(ShareCast News) - William Hill was under the cosh on Friday after UBS downgraded the stock to 'sell' from 'buy' and slashed the price target to 365p from 410p as it pointed to an increasingly competitive backdrop. "We believe that, with consolidation in the industry, and with a re-vamped Ladbrokes

3 Mar 2016 08:10

Ladbrokes Says Gala Coral Posts Net Revenue And Earnings Growth

3 Mar 2016 07:37

Thursday newspaper round-up: National Grid, Rolls-Royce, bookmakers

(ShareCast News) - The energy regulator Ofgem is to be handed sweeping new powers to manage the country's electricity supplies, switch off factories and request emergency back-up generation, under energy market reforms being considered by Whitehall. Documents seen by The Times show ministers are con

2 Mar 2016 16:46

UPDATE 1-Cruz gains in online betting, Trump still Republican favorite

(Adds Ladbrokes odds) March 2 (Reuters) - Ted Cruz's Super Tuesday victories in his home state of Texas and neighboring Oklahoma strengthened his odds for the Republican presidential nomination on online betting sites but he still trails far behind Donald Trump. On PredictIt.com, oper

2 Mar 2016 09:35

BROKER RATINGS SUMMARY: Goldman Cuts Pearson To Sell From Neutral

24 Feb 2016 17:33

UPDATE 1-Online bettors see Donald Trump as odds-on Republican nominee

(Adds data, recasts first paragraph, adds NEW YORK to dateline) NEW YORK/LONDON, Feb 24 (Reuters) - Donald Trump's chances of winning the Republican nomination for the White House shot to a record high at online betting sites around the world on Wednesday after his latest victory in voting

24 Feb 2016 17:20

CORRECTED-British bookmakers slash odds on Trump taking Republican nomination

(Corrects Rubio's first name in fourth paragraph to Marco from Mark) LONDON, Feb 24 (Reuters) - British bookmakers on Wednesday slashed the odds on businessman Donald Trump winning the Republican nomination to run for the U.S. presidency after his latest victory in the Nevada caucuses. <

23 Feb 2016 15:01

FTSE 250 movers: Meggitt keeps index flying in the black

(ShareCast News) - In contrast to its older sibling, the FTSE 250 was in the black on Tuesday afternoon, up 16.35 points (0.10%) to 16,305.15. Meggitt led the pack after it posted a small rise in 2015 pre-tax profit and lifted its dividend despite what it referred to as a challenging year. For the

23 Feb 2016 13:51

Tuesday broker round-up

(ShareCast News) - HSBC: JP Morgan reiterates underweight with a target price of 410p and UBS stays at buy, 490p target. Just Eat: Investec reiterates buy with a target price of 435p. Glencore: Exane BNP Paribas keeps at outperform with a target of 145p. Ashmore Group: UBS starts coverage at neutr

23 Feb 2016 13:51

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