Morgan Stanley upgraded shares of Paddy Power Betfair (LON:PPB) to an equal weight rating in a research note issued to investors on Friday morning. Morgan Stanley currently has GBX 6,600 ($86.24) target price on the stock, down from their prior target price of GBX 7,200 ($94.08).
Several other equities analysts also recently commented on PPB. Berenberg Bank upgraded Paddy Power Betfair to a hold rating and dropped their target price for the company from GBX 7,000 ($91.47) to GBX 6,500 ($84.93) in a research report on Friday, October 12th. Barclays dropped their target price on 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 research report on Tuesday, October 16th. Peel Hunt reiterated a reduce rating on shares of Paddy Power Betfair in a research report on Tuesday, October 16th. Credit Suisse Group upgraded Paddy Power Betfair to a neutral rating and dropped their target price for the company from GBX 8,650 ($113.03) to GBX 7,600 ($99.31) in a research report on Tuesday, October 23rd. Finally, Goldman Sachs Group downgraded Paddy Power Betfair to a neutral rating and dropped their target price for the company from GBX 7,700 ($100.61) to GBX 7,400 ($96.69) in a research report on Wednesday, October 31st. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. Paddy Power Betfair currently has an average rating of Hold and an average price target of GBX 6,654.55 ($86.95).
Paddy Power Betfair stock opened at GBX 6,304 ($82.37) on Friday. 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).
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.
Further Reading: Quiet Period
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