Shore Capital Reaffirms "Buy" Rating for Ladbrokes Coral Group PLC (LCL)

This rating was disclosed in analysts report on 13 November.

Soaring online revenues helped Ladbrokes Coral post a 3pc rise in group sales despite declines in its United Kingdom high street shops. The company now has a consensus rating of "Buy" and a consensus target price of GBX 159.80 ($2.10). Peel Hunt restated a "buy" rating and set a GBX 200 ($2.63) price objective on shares of Ladbrokes Coral Group PLC in a research report on Thursday, August 31st. The rating was maintained by Investec on Wednesday, July 26 with "Buy".

Ladbrokes Coral chief executive Jim Mullen said the results represent "another period of positive trading performance for the group as well as solid delivery on the key operational and financial targets for the year". Numis Securities Ltd reiterated a "hold" rating on shares of Ladbrokes PLC in a research report on Tuesday, September 6th. The stock presently has a consensus rating of "Hold" and a consensus price target of GBX 141.89 ($1.80). The rating was maintained by Morgan Stanley with "Overweight" on Wednesday, April 5. The firm has "Buy" rating by Berenberg given on Monday, May 8. Goldman Sachs maintained it with "Buy" rating and GBX 177 target in Thursday, March 30 report. Investec maintained the stock with "Buy" rating in Monday, November 13 report.

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.

Shares of Ladbrokes Coral Group PLC (LON LCL) opened at GBX 135.90 ($1.79) on Monday. It has underperformed by 16.70% the S&P500.

It has been well documented that Ladbrokes Coral will be the most affected United Kingdom betting Plc, should the United Kingdom government adopt stringent restrictions on FOBTs machine wagering policy. The company has market cap of 2.57 billion GBP.

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

The performance of the operator's online operations helped to mitigate a one per cent drop in like-for-like United Kingdom betting shop revenues. Also Marketwatch.com published the news titled: "Ladbrokes Coral revenue up; trading in line" on May 04, 2017. Ladbrokes Coral governance details that it has moved to strengthen racing content within its United Kingdom betting estates by agreeing on a new content deal with The Racing Partnership.