Paddy Power Betfair (PPB) Downgraded by Berenberg Bank to Sell

Paddy Power Betfair (LON:PPB) was downgraded by analysts at Berenberg Bank to a “sell” rating in a research note issued on Thursday. They currently have a GBX 7,600 ($103.06) price target on the stock. Berenberg Bank’s target price points to a potential downside of 10.17% from the stock’s current price.

Several other brokerages have also commented on PPB. Barclays reaffirmed an “overweight” rating and issued a GBX 9,400 ($127.47) price target on shares of Paddy Power Betfair in a research note on Wednesday. HSBC boosted their price target on Paddy Power Betfair from GBX 5,700 ($77.30) to GBX 6,000 ($81.37) and gave the company a “reduce” rating in a research note on Thursday, November 2nd. boosted their price target on Paddy Power Betfair from GBX 5,700 ($77.30) to GBX 6,000 ($81.37) and gave the company a “reduce” rating in a research note on Thursday, November 2nd. lifted their price objective on Paddy Power Betfair from GBX 5,700 ($77.30) to GBX 6,000 ($81.37) and gave the company a “reduce” rating in a research report on Thursday, November 2nd. Finally, Numis Securities reiterated a “hold” rating and issued a GBX 8,000 ($108.49) price objective on shares of Paddy Power Betfair in a research report on Thursday, November 2nd. Six research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of GBX 8,082.50 ($109.61).

Shares of Paddy Power Betfair (LON PPB) traded up GBX 55 ($0.75) during mid-day trading on Thursday, reaching GBX 8,460 ($114.73). The company had a trading volume of 195,637 shares, compared to its average volume of 110,375. The firm has a market cap of $7,140.00 and a price-to-earnings ratio of 5,388.54. Paddy Power Betfair has a twelve month low of GBX 6,572.50 ($89.13) and a twelve month high of GBX 8,967 ($121.60).

In other news, insider Alexander Gersh sold 20,000 shares of the business’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of GBX 8,273 ($112.19), for a total transaction of £1,654,600 ($2,243,829.67).

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Analyst Recommendations for Paddy Power Betfair (LON:PPB)

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