JPMorgan Chase & Co. Begins Coverage on Playtech (LON:PTEC)

JPMorgan Chase & Co. assumed coverage on shares of Playtech (LON:PTEC) in a research note published on Wednesday morning, Digital Look reports. The firm issued an overweight rating and a GBX 603 ($7.88) target price on the stock.

Several other analysts have also commented on PTEC. Deutsche Bank reiterated a hold rating on shares of United Parcel Service in a report on Tuesday, July 2nd. Jefferies Financial Group decreased their price objective on Chemours from $48.00 to $30.00 and set a buy rating for the company in a report on Monday, June 10th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of GBX 575.82 ($7.52).

Shares of PTEC opened at GBX 450.10 ($5.88) on Wednesday. Playtech has a 12 month low of GBX 357.10 ($4.67) and a 12 month high of GBX 580.80 ($7.59). The firm’s fifty day simple moving average is GBX 419.80. The company has a debt-to-equity ratio of 60.09, a quick ratio of 0.92 and a current ratio of 0.98. The stock has a market cap of $1.39 billion and a price-to-earnings ratio of 4.78.

In other news, insider John Jackson bought 5,000 shares of Playtech stock in a transaction that occurred on Wednesday, June 26th. The stock was bought at an average price of GBX 409 ($5.34) per share, for a total transaction of £20,450 ($26,721.55).

Playtech Company Profile

Playtech Plc develops and sells software products for the online and land-based gambling industries worldwide. The company operates through Gaming B2B, Gaming B2C, and Financial segments. It operates an online trading platform to retail customers, which enable them to trade contracts for differences on various instruments, such as foreign exchange, commodities, equities, and indices; and provides B2B clearing and execution services for retail brokers and professional clients.

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Analyst Recommendations for Playtech (LON:PTEC)

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