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Main » The Goldman Sachs Group Inc. Reiterates Buy Rating for Ladbrokes PLC (LAD)

The Goldman Sachs Group Inc. Reiterates Buy Rating for Ladbrokes PLC (LAD)

14 November 2017

The new target price indicates a possible upside of 0.48% based on the company's previous stock price.

Ladbrokes Coral Group has cited the performance of its digital business as one of the main reasons behind a positive trading performance in the third quarter. This rating was disclosed in analysts report on 13 November.

Ladbrokes Coral, the FTSE 250 firm which has the subsidiary, Northwest Bookmakers here in NI, said group net revenue had grown 3% for the four months to October 29, with the digital arm clocking a 12% rise thanks to an 18% jump from online gaming firm Sportsbook. Canaccord Genuity reiterated a "buy" rating and issued a GBX 165 ($2.17) target price on shares of Ladbrokes Coral Group PLC in a research report on Friday, July 28th.

Publishing its Q3 trading update (period ending 29 October), FTSE-listed sports betting group Ladbrokes Coral Plc continues to record a strong digital momentum, offsetting the year decline of its United Kingdom retail betting division. Liberum Capital maintained Ladbrokes Coral Group PLC (LON:LCL) rating on Monday, February 6. The correct version of this piece can be viewed at https://weekherald.com/2017/11/13/shore-capital-reaffirms-buy-rating-for-ladbrokes-coral-group-plc-lcl.html. As per Wednesday, October 4, the company rating was maintained by Berenberg. Goldman Sachs maintained it with "Buy" rating and GBX 177 target in Thursday, March 30 report. As per Friday, July 28, the company rating was maintained by Barclays Capital.

About 1.08 million shares traded. It has underperformed by 16.70% the S&P500.

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Ladbrokes PLC (LON:LAD) opened at 133.29 on Monday.

The amount generated by sports betting in its British shops dipped 4pc in the period, while revenues from their machines were flat, leaving total United Kingdom retail net revenue down 1pc.

The performance of the operator's online operations helped to mitigate a one per cent drop in like-for-like United Kingdom betting shop revenues. Also Seekingalpha.com published the news titled: "Ladbrokes Coral Group's (LDBKF) CEO Jim Mullen on Q2 2017 Results - Earnings ..." on August 31, 2017. Ladbrokes Coral Group PLC has a twelve month low of GBX 110.30 ($1.45) and a twelve month high of GBX 139.30 ($1.83).

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The Goldman Sachs Group Inc. Reiterates Buy Rating for Ladbrokes PLC (LAD)