20 May 2016 09:35
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Don't have an account? Click here to register.Ladbrokes given a boost by Berenberg upgrade
Fri, 26th Aug 2016 08:46
(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 first half results beating expectations, the merger with Coral receiving approval and Boylesports proposing to buy around 360 shops to be disposed."We expect Coral to report strong numbers on 31 August, earnings momentum to continue; we therefore revisit our numbers and upgrade the stock to 'buy'.""The stock is up (c15% in one month), but it is not too late to join the rally."Earlier this month, Ladbrokes reported a 13.1% rise in first half revenue to £661.8m and a 61% increase in pre-tax profit to 339.8m, supported by favourable sporting results and a higher number of placed bets.Group revenue was driven growth in its online division, where revenues rose 41% to £158m. Berenberg expects Coral's third quarter results will show trends "at least as good as in its previous quarter" with a 9% year-on-year rise in revenues."We have therefore increased our estimates for both companies, which has resulted in 15% higher earnings per share 2017-2018E for the combined entity."Shares climbed 2.74% to 161.20p at 0940 BST.
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20 May 2016 08:47
REFILE-Britain's FTSE led higher by Coca-Cola HBC and miners
(Refiles to fix spelling in headline) * FTSE 100 up 1.5 pct * Coco-Cola HBC rises after upgrade * Miners up as metals prices firm * Ladbrokes gains after competition regulator decision By Kit Rees LONDON, May 20 (Reuters) - UK shares rose on Friday, set for the
Read more20 May 2016 07:31
London pre-open: Stocks set to rebound from Fed-fuelled losses
(ShareCast News) - London stocks were expected to open in the black on Friday, bouncing back from the Fed-fuelled losses of the previous session. The FTSE 100 was seen starting 57 points higher than Thursday's close at 6,110. "While US markets did finish the day lower yesterday they did at least ma
Read more20 May 2016 07:12
Market relieved by provisional CMA Ladbrokes-Coral findings
(ShareCast News) - Investors were seemingly pleased with the provisional findings of the Competition and Markets Authority into the merger between bookmakers Ladbrokes and Gala Coral, with a smaller number of outlets needed to be sold than anticipated. Shares in Ladbrokes were surging in morning tra
Read more20 May 2016 06:22
Ladbrokes, Coral need to sell shops to win deal clearance - CMA
LONDON, May 20 (Reuters) - Bookmakers Ladbrokes and Gala Coral will have to sell between 350 and 400 shops to win clearance for their merger, the British competition regulator said on Friday. In the provisional findings of a review of the deal, the Competition and Markets Authority said a t
Read more16 May 2016 06:39
Monday newspaper round-up: Ladbrokes-Coral, BHS, G4S, Sky
(ShareCast News) - The merger between Ladbrokes and Coral could be blocked, analysts have suggested, citing the blocking last week of the proposed merger between O2 and Three by Europe's competition commission on the ground that it would have cut the number of big players from four to three, an argu
Read more15 May 2016 17:01
Sunday newspaper round-up: RBS, Shell, Cobham, BT, banks
(ShareCast News) - Royal Bank of Scotland is examining a range of radical options to help speed the long-delayed separation and flotation of its Williams & Glyn subsidiary, including a potential divestment of its NatWest brand. Banking sources have indicated to the Sunday Telegraph that RBS and its
Read more28 Apr 2016 15:00