Morgan Stanley Cuts Playtech PLC (PTEC) Price Target to GBX 1,050

Playtech PLC (LON:PTEC) had its price target reduced by Morgan Stanley from GBX 1,400 ($18.47) to GBX 1,050 ($13.86) in a research report released on Friday, MarketBeat reports. Morgan Stanley currently has an overweight rating on the stock.

PTEC has been the topic of a number of other reports. Investec lowered their price objective on shares of Playtech PLC from GBX 1,120 ($14.78) to GBX 1,030 ($13.59) and set a buy rating on the stock in a report on Friday. Shore Capital reiterated a buy rating on shares of Playtech PLC in a report on Thursday, August 24th. Credit Suisse Group assumed coverage on shares of Playtech PLC in a report on Monday, August 14th. They issued an outperform rating and a GBX 1,200 ($15.84) price objective on the stock. Numis Securities Ltd reiterated a buy rating and issued a GBX 1,040 ($13.72) price objective on shares of Playtech PLC in a report on Thursday. Finally, Citigroup Inc. reiterated a buy rating and issued a GBX 1,250 ($16.50) price objective (down from GBX 1,260 ($16.63)) on shares of Playtech PLC in a report on Friday, August 25th. Twelve equities research analysts have rated the stock with a buy rating, The stock has a consensus rating of Buy and a consensus target price of GBX 1,075.45 ($14.19).

Shares of Playtech PLC (LON PTEC) opened at GBX 812 ($10.72) on Friday.

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The company also recently announced a dividend, which was paid on Tuesday, October 24th. Investors of record on Thursday, September 21st were issued a dividend of €0.12 ($0.14) per share. The ex-dividend date was Thursday, September 21st. This represents a yield of 1.12%.

About Playtech PLC

Playtech plc supplies online gaming software. The Company and its subsidiaries develop software platforms for the online and land-based gambling industry. Its gaming applications include online casino, poker and other pay to play games, bingo, mobile, live gaming, land-based terminal and fixed-odds games.

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