Entain's (ENT) Buy Rating Reiterated at Berenberg Bank

Key Points

• Berenberg Bank reiterated its buy rating on Entain and kept a GBX 1,200 price target, implying about 118% upside from the current share price.
• Other analysts remain largely bullish, with several firms maintaining buy-equivalent ratings and targets ranging from GBX 750 to GBX 1,028; the overall consensus rating is Buy with a consensus target of GBX 1,013.
• Entain shares opened at GBX 550, near the lower end of their 52-week range of GBX 500.40 to GBX 1,031.50, while the company continues to operate as a major global sports betting and gaming group, including its BetMGM joint venture in the U.S.

Entain (LON:ENT - Get Free Report)'s stock had its "buy" rating restated by analysts at Berenberg Bank in a report issued on Thursday,Digital Look reports. They presently have a GBX 1,200 target price on the stock. Berenberg Bank's price target indicates a potential upside of 118.18% from the stock's current price.

ENT has been the subject of several other research reports. Peel Hunt reiterated a "buy" rating and issued a GBX 750 price target on shares of Entain in a research report on Wednesday, April 15th. Jefferies Financial Group restated a "buy" rating and set a GBX 1,000 price objective on shares of Entain in a research report on Monday, July 6th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a GBX 1,028 price objective on shares of Entain in a research note on Friday, June 26th. Shore Capital Group restated a "buy" rating and issued a GBX 988 price target on shares of Entain in a research report on Friday, June 26th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Entain from GBX 1,040 to GBX 1,025 and set an "overweight" rating for the company in a research note on Friday, July 3rd. Seven research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of GBX 1,013.

Entain Price Performance

ENT stock opened at GBX 550 on Thursday. Entain has a 52 week low of GBX 500.40 and a 52 week high of GBX 1,031.50. The firm has a market capitalization of £3.52 billion, a P/E ratio of -5.27, a price-to-earnings-growth ratio of 0.92 and a beta of 0.77. The company has a fifty day simple moving average of GBX 555.19 and a two-hundred day simple moving average of GBX 585.63. The company has a quick ratio of 0.74, a current ratio of 0.52 and a debt-to-equity ratio of 448.61.

About Entain

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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