Paddy Power And Betfair Shares Undervalued?

PADDY POWER AND BETFAIR SHARES UNDERVALUED?

21st September, 2015 at 06:19:42
Source: http://www.azonlinecasinos.com

Planned merger boosts the value of both companies, say analysts.

Analysts at Dublin-based stockbroker Davy, which advises on wealth and asset management, capital markets and financial advisory services, have opined that shares in Paddy Power are undervalued by 30 percent, and those of future merger partner Betfair will rise by a similar percentage.

Writing in a new report, analysts David Jennings and Robert Stokes set a new price target of Euro 129 on Paddy Power shares, which broke the Euro 100 mark last week and closed at Euro 102.70 last Friday. Shares in Paddy Power had earlier this year been trading at Euro 69.

Betfair's shares should also rise in value by around 30 percent, the report suggests, creating a new price target for the stock of 41.30.

The report predicts the combined group could become one of the highest growth stocks in Europe.

Related News Tags: ,



« News index »



SPORTECH FULL YEAR 2016 RESULTS

29th March, 2017 at 15:16:22
Results fail to impress but transformational period positions company for growth, Board believes.

NEW TELEVISION ADVERT FROM ONLINE CASINO

28th March, 2017 at 19:47:54
PlayOJO.com begins major marketing push in UK.

HABANERO HAILS STRONG START TO 2017

28th March, 2017 at 11:21:29
Future looks bright, developer says.

PARIPLAY LAUNCH BLOODSHOT (Update)

27th March, 2017 at 20:04:48
Based on iconic comic book series.

ULTRAPLAY DOUBLE DEAL

27th March, 2017 at 13:46:09
With Mbitcasino and Arcanebet
Full Story: Ultraplay Double Deal »