Playtech (LON:PTEC) Coverage Initiated at JPMorgan Chase & Co.

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JPMorgan Chase & Co. initiated coverage on shares of Playtech (LON:PTEC) in a research report issued on Wednesday, Digital Look reports. The firm set an “overweight” rating and a GBX 603 ($7.88) price target on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 33.44% from the stock’s current price.

Several other analysts also recently weighed in on PTEC. Jefferies Financial Group dropped their price objective on Chemours from $48.00 to $30.00 and set a “buy” rating for the company in a research report on Monday, June 10th. Deutsche Bank restated a “hold” rating on shares of United Parcel Service in a research report on Tuesday, July 2nd. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Playtech presently has an average rating of “Buy” and a consensus target price of GBX 575.82 ($7.52).

Shares of PTEC stock opened at GBX 451.90 ($5.90) on Wednesday. The company has a current ratio of 0.98, a quick ratio of 0.92 and a debt-to-equity ratio of 60.09. Playtech has a twelve month low of GBX 357.10 ($4.67) and a twelve month high of GBX 580.80 ($7.59). The company has a market cap of $1.38 billion and a P/E ratio of 4.80. The stock’s fifty day simple moving average is GBX 418.80.

In other Playtech news, insider John Jackson acquired 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 26th. The stock was acquired at an average cost of GBX 409 ($5.34) per share, for a total transaction of £20,450 ($26,721.55).

Playtech Company Profile

Playtech Plc develops and sells software products for the online and land-based gambling industries worldwide. The company operates through Gaming B2B, Gaming B2C, and Financial segments. It operates an online trading platform to retail customers, which enable them to trade contracts for differences on various instruments, such as foreign exchange, commodities, equities, and indices; and provides B2B clearing and execution services for retail brokers and professional clients.

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Analyst Recommendations for Playtech (LON:PTEC)

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