6 Oct 2015 05:53
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Don't have an account? Click here to register.Broker tips: RBS, GlaxoSmithKline, Bookmakers
Thu, 20th Mar 2014 12:17
Investec has raised its rating for UK banking group Royal Bank of Scotland from 'sell' to 'hold' following the recent slump in its share price, but continues to recommend investors to avoid the stock.With the stock now trading at just 0.8 times tangible net asset value (tNAV), compared with a then-premium multiple of 1.0 in February, the broker has upgraded its rating. "However, why own RBS when profitable, defensive and dividend-rich Barclays ('buy') trades on 0.8 times [tNAV] too?" Panmure Gordon has retained a 'hold' recommendation on shares of GlaxoSmithKline after the pharmaceuticals group reported "another disappointment" for its therapeutic cancer vaccine, MAGE-A3."MAGE-A3 is a therapeutic cancer vaccine, the holy grail of the industry, but was identified as very high risk because it is an unproven area. Therefore, we believe consensus forecasts for this product are heavily risk adjusted and do not expect today's news to trigger major downgrades. Rather we view today's events as a missed upgrading opportunity."Changes to gaming machine taxes and horse racing betting levies announced in the Budget have prompted Credit Suisse to cut its forecasts and target prices for London-listed bookies Ladbrokes, William Hill and Paddy Power.The bank said that Ladbrokes, rated 'underperform', has the highest exposure to UK retail and will be most affected by these changes. It reduced its earnings estimates by 14% and 17% in 2015 and 2016, respectively, leading to a cut in the target price from 155p to 130p.BC
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1 Oct 2015 16:31
Glencore director backs company to the tune of nearly half a million pounds
(ShareCast News) - Glencore nearly bounced to pre-slump levels on Thursday, and director John Mack showed investors he's still backing the mining company. Shares in the FTSE 100-listed company dropped dramatically on Monday after Investec warned the stock holds little value for shareholders. But Jo
Read more8 Sep 2015 09:13
Betfair and Paddy Power agree on merger
(ShareCast News) - Betting companies Paddy Power and Betfair have reached an agreement on a £5bn all-share merger. The merged entity will be called Paddy Power Betfair and Paddy Power shareholders will own 52% of the group, while Betfair shareholders will own the rest, if both sets of shareholders a
Read more1 Sep 2015 14:30
Broker tips: Paddy Power, ASOS, Ocado
(ShareCast News) - HSBC upgraded Paddy Power to 'hold' from 'reduce' and lifted its price target to €96.5 from €71.5 following strong first-half results and the company's deal with Betfair. The bank said operating profit was 9% ahead of its estimate, driven by the online operations in Europe and Aus
Read more1 Sep 2015 13:09
HSBC lifts Paddy Power to 'hold' on strong interims
(ShareCast News) - HSBC upgraded Paddy Power to 'hold' from 'reduce' and lifted its price target to €96.5 from €71.5 following strong first-half results and the company's deal with Betfair. The bank said operating profit was 9% ahead of its estimate, driven by the online operations in Europe and Au
Read more27 Aug 2015 12:14
27 Aug 2015 11:58
Exane BNP bumps Betfair up to 'neutral' on merger news
(ShareCast News) - Exane BNP Paribas upgraded Betfair to 'neutral' from 'underperform' following the announcement on Wednesday that it has agreed in principle to the terms of a merger with Paddy Power. Exane said the new discounted cash flow-based valuation for Paddy Power points to €95 a share. Bas
Read more26 Aug 2015 08:48
BUZZ-British online betting co's: Dealt a bad hand on Betfair-Paddy Power deal
** Possible Betfair-Paddy Power 5 bln stg merger a bad bet for rivals ** Merger could create one of the world's largest online betting and gaming groups with estimated revenue of over 1.1 bln stg ** William Hill and Ladbrokes both down more than 5 pct; worst performers on the FTSE 250
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