Paddy Power Betfair (LON:PPB) had its price target cut by Credit Suisse Group from GBX 7,600 ($99.31) to GBX 6,400 ($83.63) in a research report sent to investors on Tuesday morning. They currently have a neutral rating on the stock.
Several other analysts also recently issued reports on PPB. Peel Hunt reaffirmed a reduce rating on shares of Paddy Power Betfair in a report on Tuesday, October 16th. Numis Securities upped their price objective on shares of Paddy Power Betfair from GBX 8,320 ($108.72) to GBX 8,530 ($111.46) and gave the stock a hold rating in a report on Wednesday, August 8th. Barclays decreased their price objective on shares of Paddy Power Betfair from GBX 7,730 ($101.01) to GBX 7,500 ($98.00) and set an overweight rating for the company in a report on Tuesday, October 16th. Berenberg Bank raised shares of Paddy Power Betfair to a hold rating and decreased their price objective for the stock from GBX 7,000 ($91.47) to GBX 6,500 ($84.93) in a report on Friday, October 12th. Finally, Citigroup downgraded shares of Paddy Power Betfair to a sell rating in a report on Monday, August 13th. Eight research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. The company currently has an average rating of Hold and an average target price of GBX 6,940 ($90.68).
PPB stock opened at GBX 7,060 ($92.25) on Tuesday. Paddy Power Betfair has a 12 month low of GBX 6,572.50 ($85.88) and a 12 month high of GBX 8,967 ($117.17).
In related news, insider Peter Jackson acquired 930 shares of the firm’s stock in a transaction on Thursday, August 23rd. The shares were purchased at an average price of GBX 7,168 ($93.66) per share, with a total value of £66,662.40 ($87,106.23).
Paddy Power Betfair Company Profile
Paddy Power Betfair plc operates as a sports betting and gaming company in the United Kingdom, Ireland, Australia, the Unites States, and internationally. The company operates through Online, Australia, Retail, and US segments. It offers exchange sports betting and pari-mutuel betting products; fixed odds games betting; online games and casino; peer to peer games, including online bingo and poker; and business-to-business services.
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