Is Playtech (LON:PTEC) Worth Your Time and Dime Following a Berenberg Bank Downgrade?

January 11, 2018 - By Richard Conner

Playtech (LON:PTEC) Receives a Downgrade

This morning Playtech (LON:PTEC) has been downgraded by Berenberg Bank to a “Hold” rating in analysts note issued on Thursday, 11 January. The firm currently has a GBX 950.00 target shares.

Playtech plc (LON:PTEC) Ratings Coverage

Among 15 analysts covering Playtech Ltd (LON:PTEC), 13 have Buy rating, 0 Sell and 2 Hold. Therefore 87% are positive. Playtech Ltd has GBX 1380 highest and GBX 720 lowest target. GBX 1015.07’s average target is 22.77% above currents GBX 826.8 stock price. Playtech Ltd had 144 analyst reports since July 24, 2015 according to SRatingsIntel. The stock has “Buy” rating by Liberum Capital on Friday, March 4. The stock of Playtech plc (LON:PTEC) earned “Neutral” rating by Credit Suisse on Wednesday, December 9. Numis Securities maintained the shares of PTEC in report on Thursday, February 23 with “Buy” rating. The rating was maintained by Goodbody on Wednesday, November 30 with “Buy”. Morgan Stanley maintained the shares of PTEC in report on Monday, January 8 with “Overweight” rating. Nomura maintained Playtech plc (LON:PTEC) rating on Monday, January 11. Nomura has “Buy” rating and GBX 971 target. The stock of Playtech plc (LON:PTEC) earned “Buy” rating by Canaccord Genuity on Monday, May 23. As per Monday, November 14, the company rating was maintained by Canaccord Genuity. The rating was maintained by UBS on Monday, February 27 with “Buy”. Deutsche Bank maintained Playtech plc (LON:PTEC) on Tuesday, December 1 with “Buy” rating.

The stock decreased 2.06% or GBX 17.4 during the last trading session, reaching GBX 826.8. About 771,745 shares traded. Playtech plc (LON:PTEC) has 0.00% since January 11, 2017 and is . It has underperformed by 16.70% the S&P500.

Playtech plc engages in the development and licensing of software products for the online and land gambling industries. The company has market cap of 2.60 billion GBP. The firm operated through Gaming and Financials divisions. It has a 9.93 P/E ratio. The Company’s gaming applications comprise online casino, poker and other P2P games, bingo, mobile and social gaming, land based terminal, sports betting, lottery, and casual and fixed-odds games.

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