28 Aug 2014 10:36
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Don't have an account? Click here to register.HSBC lifts Paddy Power to 'hold' on strong interims
Tue, 01st Sep 2015 13:09
(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 Australia.HSBC said the deal with Betfair was "good news", bringing additional product, especially the exchange, which it thinks is high value and expects to be used to improve the offer. It said the deal has the potential to create a unique, market-leading business."The terms look attractive for Paddy, which retains a 52% equity stake, in line with the market capitalisation of the two groups the day before the deal was announced," it said.HSBC said the strong share price performance in the past week reflects the continued upgrades being delivered by the group and the potential acceleration that could be delivered by a Betfair transaction."This left our valuation-driven 'reduce' rating looking completely redundant," said the bank.At 1315 BST, Paddy Power shares were up 0.4% at €97.63.
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13 May 2014 09:00
Football Results Go Against Paddy Power; CEO Kennedy To Step Down
LONDON (Alliance News) - Betting and gaming company Paddy Power PLC Tuesday said it experienced its "worst two weekends ever for football profitability" in January and March, after football results went heavily against it. Paddy Power also announced that Chief Executive Patrick Kennedy will
Read more13 May 2014 07:29
UK MORNING BRIEFING: Taylor Wimpey Leads Strong FTSE 250
LONDON (Alliance News) - Mid-cap stocks are leading London equities higher at the open Tuesday, following a strong lead in from the US and Asia, particularly Tokyo.
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27 Apr 2014 10:08
Sunday newspaper round-up: Premier Oil, Bookmakers, Friends Life
Premier Oil has rejected two takeover approaches from Ophir Energy, the Sunday Times reported. The most recent proposal by Ophir was an all-share deal that was unanimously rejected by Premier's board two weeks ago. The companies are likely to inform the market about the talks on April 28th following
Read more27 Apr 2014 08:35
Sunday share tips: Severn Trent, Ladbrokes, Lloyds Banking
Severn Trent investors have reasons to be annoyed after the water company's performance since rejecting a takeover bid, Danny Fortson argued in the Sunday Times. In his Inside the City column, Fortson said Severn's shares are almost a fifth lower than the 22 pounds offered by overseas investors a ye
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