Berenberg Bank Has Lowered Expectations for Entain (LON:ENT) Stock Price

Key Points

• Berenberg Bank lowered Entain’s price target from GBX 1,200 to GBX 1,145 but maintained its “buy” rating, implying 113.06% potential upside from the current price.
• Entain retains a consensus “Buy” rating, with seven analysts rating the stock a buy and an average price target of GBX 994. Other firms have also adjusted targets while keeping positive recommendations.
• Shares opened at GBX 537.40, near the lower end of their 52-week range of GBX 500.40–1,031. The company has a £3.44 billion market capitalization and operates global sports betting and gaming brands, including a 50/50 BetMGM joint venture.

Entain (LON:ENT - Get Free Report) had its target price lowered by stock analysts at Berenberg Bank from GBX 1,200 to GBX 1,145 in a research report issued on Friday,Digital Look reports. The firm presently has a "buy" rating on the stock. Berenberg Bank's target price suggests a potential upside of 113.06% from the company's current price.

ENT has been the subject of a number of other research reports. Peel Hunt restated a "buy" rating and issued a GBX 750 target price on shares of Entain in a research note on Wednesday, April 15th. Shore Capital Group reaffirmed a "buy" rating and issued a GBX 988 price target on shares of Entain in a research note on Friday, June 26th. JPMorgan Chase & Co. decreased their price objective on Entain from GBX 1,040 to GBX 1,025 and set an "overweight" rating for the company in a report on Friday, July 3rd. Deutsche Bank Aktiengesellschaft lowered their price objective on Entain from GBX 1,028 to GBX 950 and set a "buy" rating for the company in a research report on Wednesday. Finally, Jefferies Financial Group restated a "buy" rating and set a GBX 1,000 target price on shares of Entain in a report on Monday. Seven equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of GBX 994.

Entain Stock Performance

Entain stock opened at GBX 537.40 on Friday. Entain has a fifty-two week low of GBX 500.40 and a fifty-two week high of GBX 1,031. The stock's 50 day simple moving average is GBX 557.81 and its two-hundred day simple moving average is GBX 576.96. The company has a debt-to-equity ratio of 448.61, a quick ratio of 0.74 and a current ratio of 0.52. The stock has a market cap of £3.44 billion, a price-to-earnings ratio of -5.15, a PEG ratio of 0.92 and a beta of 0.77.

Entain Company Profile

Entain plc LSE: ENT is a FTSE100 company and is one of the world's largest sports betting and gaming groups, operating both online and in the retail sector. The Group owns a comprehensive portfolio of established brands; Sports brands include BetCity, bwin, Coral, Crystalbet, Eurobet, Ladbrokes, Neds, Sportingbet, Sports Interaction, STS, SuperSport and TAB NZ; Gaming brands include Foxy Bingo, Gala, GiocoDigitale, Ninja Casino, Optibet, Partypoker and PartyCasino. The Group owns proprietary technology across all its core product verticals and in addition to its B2C operations provides services to a number of third-party customers on a B2B basis. The Group has a 50/50 joint venture, BetMGM, a leader in sports betting and iGaming in the US.

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