Jefferies Financial Group Increases Playtech (LON:PTEC) Price Target to GBX 405

Key Points

• Jefferies Financial Group has increased its price target for Playtech to GBX 405, indicating a potential upside of 21.08% from the current stock price.
• Several brokerages, including Peel Hunt and Deutsche Bank, have also reaffirmed buy ratings, with Deutsche Bank setting its target price at GBX 433.
• Playtech has initiated a share buyback program, typically signifying that the board perceives the stock as undervalued.

Playtech (LON:PTEC - Get Free Report) had its target price hoisted by research analysts at Jefferies Financial Group from GBX 395 to GBX 405 in a note issued to investors on Friday,Digital Look reports. The brokerage presently has a "buy" rating on the stock. Jefferies Financial Group's target price points to a potential upside of 21.08% from the company's current price.

A number of other brokerages have also recently commented on PTEC. Peel Hunt reaffirmed a "buy" rating and set a GBX 510 price target on shares of Playtech in a research report on Friday, August 1st. Deutsche Bank Aktiengesellschaft upped their price target on shares of Playtech from GBX 417 to GBX 433 and gave the company a "buy" rating in a research report on Thursday, September 11th.

Playtech Stock Performance

LON PTEC opened at GBX 334.50 on Friday. The company has a market capitalization of £1.03 billion, a price-to-earnings ratio of 57.52, a PEG ratio of 1.28 and a beta of 1.26. Playtech has a twelve month low of GBX 250.80 and a twelve month high of GBX 447. The stock has a fifty day simple moving average of GBX 386.37 and a 200 day simple moving average of GBX 442.37. The company has a quick ratio of 1.09, a current ratio of 1.55 and a debt-to-equity ratio of 40.06.

Playtech declared that its board has initiated a share buyback program on Thursday, September 25th that authorizes the company to repurchase 0 shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company's board of directors believes its shares are undervalued.

About Playtech

Playtech plc, a technology company, provides gambling software, services, content, and platform technologies worldwide. The company offers technologies across various product verticals, including live casino, sports, bingo, virtual sports, and poker. It also owns the intellectual property rights and licenses the software; provides digital marketing and advertising, consulting and online technical support, data mining processing, turnkey, live game, and video stream services; and operates betting shops.

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