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techkenyot.com November 23, 2017


Decline in Ladbrokes Coral high street operations offset by digital

14 November 2017, 05:52 | Henrietta Morgan

Ladbrokes Coral Group reports rise in revenue helped by popularity of online trading

The Goldman Sachs Group Inc. Reiterates Buy Rating for Ladbrokes PLC (LAD)

This target by Investec Securities indicates the possibile upside of 19.14 % from the stock close price.

Ladbrokes Coral Group has cited the performance of its digital business as one of the main reasons behind a positive trading performance in the third quarter. The stock now has a consensus rating of "Buy" and a consensus price target of GBX 159.62 ($2.10).

Shares of Ladbrokes Coral Group PLC (LON LCL) opened at GBX 135.90 ($1.79) on Monday. The firm has "Buy" rating given on Monday, November 13 by Shore Capital. Canaccord Genuity has "Buy" rating and GBX 165 target.

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Numis left its rating at "hold" and target price at 141p, saying: "With uncertainty surrounding the profitability of Ladbroke's United Kingdom retail estate (54% of group revenue with gaming machines more than half of this) not expected to be resolved before Spring 2018, we retain our cautious stance". Numis Securities maintained Ladbrokes Coral Group PLC (LON:LCL) rating on Wednesday, January 18. The correct version of this piece can be viewed at https://weekherald.com/2017/11/13/shore-capital-reaffirms-buy-rating-for-ladbrokes-coral-group-plc-lcl.html. As per Friday, September 1, the company rating was maintained by JP Morgan. The rating was maintained by Investec on Wednesday, July 26 with "Buy". Goldman Sachs maintained it with "Buy" rating and GBX 177 target in Thursday, March 30 report. Liberum Capital maintained the shares of LCL in report on Tuesday, January 24 with "Sell" rating.

However, the FTSE bookmaker continues to suffer declines in its United Kingdom retail division (the firm's biggest revenue generating channel), which declined 1% in net revenues during the trading period. It has underperformed by 16.70% the S&P500.

"Ladbrokes Coral reached its first birthday on November 1, the day after the further consultation on the Triennial Review was announced", Mullen said.

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Total group revenue was up three per cent, boosted by 12 per cent growth in digital and 17 per cent growth in European retail.

"In UK retail, performance improved in line with our expectations primarily driven by the return of all horse-racing content to our shops". The stock's market capitalization is GBX 1.36 billion.

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