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BofA cuts Entain stock rating to neutral, target to GBP7.50


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BofA Securities revised its stance on Entain PLC (ENT:LN) (OTC: GMVHF), downgrading the stock from Buy to Neutral and reducing the price target to GBP7.50 from GBP8.00. The adjustment follows the unexpected announcement that Entain's CEO Gavin Isaacs would be departing immediately.

Bank of America (BofA) has downgraded its rating on Entain, a leading global sports betting and gaming company, from "buy" to "neutral" and reduced its price target from 1,160 pence to 750 pence. This adjustment reflects concerns over the potential impact of a new UK gambling white paper, which could introduce stricter regulations affecting Entain's operations. The white paper, expected to be published soon, might include measures like stake limits on online slot games, which could significantly influence the company's profitability. Additionally, BofA highlighted that Entain's stock has underperformed compared to its peers, and the company faces challenges in meeting its medium-term margin targets due to these regulatory uncertainties.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/money/topstocks/bofa-cuts-entain-stock-rating-to-neutral-target-to-gbp7-50/ar-AA1ySDz5 ]

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