April 17, 2009 / 8:13 AM / 10 years ago

STOCKS NEWS EUROPE-Daniel Stewart favours gambling stocks

Gambling sector stocks are boosted by a positive research note from broker Daniel Stewart which identifies Playtech (PTEC.L), William Hill (WMH.L) and Sportingbet SBT.L as its three top “buys” in the sector.

Daniel Stewart reiterates a “buy” recommendation and 64 pence price target on Sportingbet, which rises 5.7 percent to 60.25 pence. The broker highlights its strength in Spain, Greece, and Australia and a number of Eastern European territories, and says it will play an active role in industry consolidation.

Daniel Stewart keeps its “buy” stance and 543 pence target price on gaming software provider Playtech, which gains 0.6 percent to 457.75 pence. It says Playtech has solid expected European upside and significant potential in Asia.

The broker also rates William Hill as a “buy”, with a 225 pence price target, saying its discount to the sector following a rights issue has been overdone. William Hill shares are up 0.1 percent to 188 pence.

Reuters messaging rm://matthew.scuffham.reuters.com@reuters.net

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