Paddy Power Betfair (LON:PPB) was downgraded by research analysts at Goldman Sachs Group to a “neutral” rating in a research report issued on Wednesday. They currently have a GBX 7,400 ($96.69) target price on the stock, down from their prior target price of GBX 7,700 ($100.61). Goldman Sachs Group’s price objective suggests a potential upside of 10.53% from the stock’s current price.
A number of other research firms have also commented on PPB. Shore Capital reaffirmed a “sell” rating on shares of Paddy Power Betfair in a report on Wednesday, August 8th. Peel Hunt reaffirmed a “reduce” rating on shares of Paddy Power Betfair in a report on Tuesday, October 16th. Credit Suisse Group cut their price target on Paddy Power Betfair from GBX 7,600 ($99.31) to GBX 6,400 ($83.63) and set a “neutral” rating for the company in a report on Tuesday. Citigroup lowered Paddy Power Betfair to a “sell” rating in a research note on Monday, August 13th. Finally, Numis Securities lifted their price objective on Paddy Power Betfair from GBX 8,320 ($108.72) to GBX 8,530 ($111.46) and gave the company a “hold” rating in a research note on Wednesday, August 8th. Eight 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. Paddy Power Betfair presently has an average rating of “Hold” and a consensus target price of GBX 7,194.29 ($94.01).
Paddy Power Betfair stock opened at GBX 6,695 ($87.48) on Wednesday. Paddy Power Betfair has a one year low of GBX 6,572.50 ($85.88) and a one year high of GBX 8,967 ($117.17).
About Paddy Power Betfair
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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