William Hill’s ‘buy’ rating reaffirmed by Jefferies & Co.
A senior Jefferies & Co. analyst reissued his "buy" rating on shares of William Hill Plc, according to a research report released Wednesday.
In his 18-page report, analyst James Wheatcroft kept his $5.95 price target on the stock, but he noted the price target could be "upgraded further" if the acquisitions of Playtech Ltd. and Sportingbet Plc "are successful and online exposure accelerates."
William Hill shares closed Wednesday at $5.48 on the London Stock Exchange.
William Hill operates 159 race and sports books and kiosks in Nevada. Wheatcroft said his decision to reaffirm the rating for the British bookmaker was simple.
"William Hill's business is changing, for the better," Wheatcroft said. "An already increasing focus on online should kick-start the re-rating which would be further accelerated by the proposed Sportingbet deal and Playtech stake acquisition."
Contact reporter Chris Sieroty at csieroty@reviewjournal.com or 702-477-3893. Follow @sierotyfeatures on Twitter.
