Goldman Sachs’ bets are off UK bookie William Hill Plc (LON:WMH) which the banks expects to underperform and lose market share.
It has downgraded William Hill to ‘neutral’ from ‘buy’.
“We forecast UK online market share losses to continue for William Hill in 2016 (2016E EPS -7%), driven by regulatory headwinds, industry consolidation, and increased marketing spend by some key competitors,” analyst Monique Pollard said in a note.
Since the betting stock was added to the Goldman ‘buy list’ in February 2014 it has underperformed the market, the bank noted.
Elsewhere, HSBC downgrade discount retailer Poundland Group Plc (LON:PLND) to ‘hold’ from ‘buy’ following yesterday’s disappointing trading update.
Similarly, Berenberg was suitable uninspired by Mothercare plc’s (LON:MTC) sales update this week that it cut the stock to ‘sell’ from ‘hold’.
JP Morgan Cazenove lifted its price target for Stock Spirits Group Plc (LON:STCK) to 140p from 125p, and repeated a ‘neutral’ rating.
Whilst Jefferies kept a ‘hold’ rating for GlaxoSmithKline Plc (LON:GSK) it also lifted the pharma stock’s price target to 1550p.