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Analysts give Betfair solid Buy rating

Analysts give Betfair solid Buy rating

All but one of the seventeen brokerages that cover the Betfair Group (LON:BET) have issued a consensus recommendation of “Buy” report news agencies. Only one investment analyst rated the stock with a sell recommendation an effectively saying they will think the price of the stock will go lower, six have issued a hold recommendation and ten have given a buy opinion for the company. The average twelve-month target price between brokers that issued ratings last year for the stock is 1,130.37 pence ($18.74).

A number of analysts have recently given more attention to the company, with Goldman Sachs raising their price target on shares of Betfair Group from 1,260 pence ($20.89) to 1,290 pence ($21.39) in a note released to investors on Wednesday, March 26th. They now have a “buy” rating on the stock which is more bullish than the one from analysts at Credit Suisse who stood by their “neutral” rating on the shares in their research note a week earlier. They now have a 1,085 pence ($17.99) price target for the stock.

Shares of Betfair Group (LON:BET) slumped 2.65% on Monday, reaching a low of 1030.00 pence. 35,019  company shares were traded. Betfair Group had a one year low at 678.50 pence and a one year high of 1179.00 pence. The 50-day moving average of the stock 1100 pence and its 200-day moving average is GBX 1051.

Betfair Group plc is an online betting and gaming operator which offers an exchange platform where players can be the bookmakers. The Company’s major segments include Exchange, Sports, Gaming and Management of customer funds; Other investments, which includes Betfair US, and High Rollers.