Morgan Stanley Upgrades Paddy Power Betfair (PPB) to “Equal Weight”

Morgan Stanley upgraded shares of Paddy Power Betfair (LON:PPB) to an equal weight rating in a research note published on Monday morning. Morgan Stanley currently has GBX 6,600 ($86.24) target price on the stock, up from their prior target price of GBX 6,500 ($84.93).

Other equities research analysts also recently issued reports about the stock. Numis Securities raised their price objective on shares of Paddy Power Betfair from GBX 8,320 ($108.72) to GBX 8,530 ($111.46) and gave the stock a hold rating in a research report on Wednesday, August 8th. Berenberg Bank upgraded shares of Paddy Power Betfair to a hold rating and cut their price objective for the stock from GBX 7,000 ($91.47) to GBX 6,500 ($84.93) in a research report on Friday, October 12th. UBS Group upgraded shares of Paddy Power Betfair to a neutral rating and cut their price objective for the stock from GBX 7,130 ($93.17) to GBX 6,950 ($90.81) in a research report on Monday. Goldman Sachs Group downgraded shares of Paddy Power Betfair to a neutral rating and cut their price objective for the stock from GBX 7,700 ($100.61) to GBX 7,400 ($96.69) in a research report on Wednesday, October 31st. Finally, Credit Suisse Group cut their price objective on shares of 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 research report on Tuesday, October 30th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. Paddy Power Betfair presently has an average rating of Hold and a consensus target price of GBX 6,911 ($90.30).

Shares of PPB stock opened at GBX 6,595 ($86.18) on Monday. 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).

In other Paddy Power Betfair news, insider Peter Jackson purchased 930 shares of the company’s stock in a transaction dated Thursday, August 23rd. The stock was bought at an average cost of GBX 7,168 ($93.66) per share, for a total transaction of £66,662.40 ($87,106.23).

Paddy Power Betfair Company Profile

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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Analyst Recommendations for Paddy Power Betfair (LON:PPB)

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