Goldman upgrades Entain to 'buy' from 'neutral'

(Sharecast News) - Goldman Sachs upgraded Ladbrokes owner Entain on Thursday to 'buy' from 'neutral' and hiked the price target to 1,020p from 810p. The bank pointed to joint venture BetMGM's potential to deliver returns. It also cited the fact the stock trades at a significant discount to peers and its own history.

In addition, Goldman said it was increasingly confident in the transformation of BetMGM's profitability and its capacity for cash returns.

At 1500 BST, the shares were up 3.6% at 885.80p.