Goldman Sachs has raised its share price target for Betfair to 1619p a share, from 1330p.
In a statement, the broker said: "The increase is based on Betfair’s first-half results, highlighting strong revenue growth momentum, strong operating leverage, ongoing product development and a step-up in cash returns.
“We raise our estimates to reflect an increase in our market share growth assumption for Betfair, which leads to our FY17 revenue forecast rising three per cent and EBIT forecast 10 per cent given operating leverage.”
Betfair share prices have jumped around 30 per cent in the last quarter, with the stock worth 1,500p at 9.30am today.
Source: StockMarketWire
