| CATEGORY: BROKER RECOMMENDATIONS SECTOR: TRAVEL & LEISURE |
Broker snap: UBS tips William Hill, says 'sell' Ladbrokes |
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Tue 01 Jul 2008
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LONDON (SHARECAST) - UBS has begun coverage on UK bookmakers William Hill and Ladbrokes with respective ‘buy’ and ‘sell’ ratings.
The broker has a 300p price target on William Hill and a 310p price target on Ladbrokes.
The bookmakers have shown the defensiveness of the betting sector by outperforming leisure stocks, UBS said.
However, while it believes that low-level betting on sports is habitual, it added that it remains to be seen how defensive betting on machines that pay out £500 is.
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