JPMorgan Chase & Co. Increases Paddy Power Betfair (PPB) Price Target to GBX 8,690

Paddy Power Betfair (LON:PPB) had its target price raised by JPMorgan Chase & Co. from GBX 8,420 ($114.18) to GBX 8,690 ($117.85) in a research report released on Friday morning. The firm currently has a neutral rating on the stock.

A number of other equities research analysts have also weighed in on the stock. Barclays restated an overweight rating and issued a GBX 9,400 ($127.47) target price on shares of Paddy Power Betfair in a report on Monday, December 18th. Deutsche Bank restated a buy rating and issued a £105 ($142.39) target price on shares of Paddy Power Betfair in a report on Wednesday, November 1st. Macquarie started coverage on shares of Paddy Power Betfair in a report on Wednesday, October 11th. They issued an outperform rating and a GBX 8,500 ($115.27) target price on the stock. lowered their target price on shares of Paddy Power Betfair from GBX 6,900 ($93.57) to GBX 5,700 ($77.30) and set a reduce rating on the stock in a report on Thursday, September 21st. Finally, Numis Securities restated a hold rating and issued a GBX 8,000 ($108.49) target price on shares of Paddy Power Betfair in a report on Thursday, November 2nd. Six investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of Hold and an average price target of GBX 8,082.50 ($109.61).

Shares of Paddy Power Betfair (LON PPB) traded up GBX 55 ($0.75) during midday trading on Friday, hitting GBX 8,460 ($114.73). 195,637 shares of the stock traded hands, compared to its average volume of 110,375. Paddy Power Betfair has a 52-week low of GBX 6,572.50 ($89.13) and a 52-week high of GBX 8,967 ($121.60). The firm has a market capitalization of $7,140.00 and a price-to-earnings ratio of 5,388.54.

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

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