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ON THE BEACH 400
P 390 380 370 364 13 Oct 360 7 Oct 8 Oct 11 Oct 12 Oct 13 Oct
On The Beach: many are daydreaming about it, but how many are actually buying it? Davy Research has initiated coverage on the leisure stock but has only dipped its toes in with a "neutral" rating and a target price of 350p. It cites a "solid" business model, but an industry (as we've seen) too exposed to uncertainies.
P 2,160 13 Oct 2,066 2,140 2,120 2,100 2,080 2,060 7 Oct 8 Oct 11 Oct 12 Oct 13 Oct
The research team at Davy wouldn't bet the house on gambling giant Entain but saw strong signals the Ladbrokes owner is powering out of lockdown. "Entain's trading performance suggests that it is maintaining its momentum in the postlockdown environment. Notably, third quarter online net revenue (NGR) rose by 10 per cent." Davy had pencilled in two per cent. It rates it as "neutral" for now.
(c) 2021 City A.M., source Newspaper