In a report released today, James Wheatcroft from Jefferies maintained a Buy rating on Entain plc, with a price target of p1,200.00.
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James Wheatcroft has given his Buy rating due to a combination of factors surrounding Entain plc. Despite the potential short-term market reaction to the announcement of CFO Rob Wood stepping down, the transition is being managed smoothly with a seasoned successor, Michael Snape, already lined up. This orderly succession plan, along with the company’s reaffirmation of its FY25E guidance, provides confidence in the company’s future stability and growth prospects.
Michael Snape’s extensive experience in financial leadership roles at prominent companies such as International Distribution Services, Walgreens Boots Alliance, and Tesco plc adds further assurance to Entain’s strategic direction. The company’s compliance with the consensus EBITDA for FY25E also supports the positive outlook. These elements collectively contribute to Wheatcroft’s optimistic view on Entain’s stock, justifying the Buy rating.
In another report released on December 2, J.P. Morgan also upgraded the stock to a Buy with a p1,090.00 price target.