Las bookmakers around the world rub their hands with the expected start of the Tokyo Olympics. And also the shareholders of the few companies in the sector that are listed on the stock market. Among the most recognized worldwide, three reach the starting line of this competition with 30% upside potential and majority buy advice for your actions.
Although the absence of the public in the stands of the sports facilities in Tokyo will mean the umpteenth economic blow for its promoters, the bookmakers keep their business potential intact. What’s more, some analysts even consider that the fact that the tests have to be followed through the screens will contribute to the fact that this time the number of bettors is greater and more recurring.
Within hours of the start, a recent Taboola study points out that the disciplines that generate the most interest in the open web are basketball, baseball and boxing. All three have a long betting tradition, especially the last one. A factor that encourages the chances of sports betting houses getting an extra boost for your business at a time when the absence of other competitions tends to reduce their income.
With these premises, taking positions in some of the firms in the sector that reap the most congratulations among experts is presented as a risky but accessible strategy to win. Even more so at a time when the expansion of the Delta variant of Covid-19 threatens the price recovery that had begun to take place in sectors such as tourism.
Within this concentrated sector in which mergers and acquisitions have not ceased to occur in recent yearsthe American Penn National Gaming It is the one that most seduces analysts. His consensus price target of $106.5 per share represents 47.6% upside potential for his shares, which enjoy a 60% buy recommendation.
However, unlike the other two in the sector that enjoy a potential of more than 30% on the floor, it is the only one that receives sales recommendations. Although only two of the 15 analysts who most closely follow the evolution of a business that, within the list, is also the most concentrated in its own facilities and physical casinos opted for this strategy.
In the case of Drafkings, the upside potential is limited to a still generous 43.8% against its current price: up to $70.41. However, the percentage of purchase recommendations reaches 70.4% of the investment firms that give their opinion on its future in the market.
They are strong roots among young people and their growing commitment to digital competitions o e-Sports it also brings added potential to the firm compared to its competitors. In this sense, this same week it has announced the upcoming launch of a platform for the sale and purchase of tokens non-fungible, the art and collectible crypto assets commonly known by the acronym NFT.
The third on this particular podium is Caesars Entertainment, which has a consensus potential of 34.7% to his price target of $125.27 per share. Although the firm is especially known for its casino business in emblematic locations such as Las Vegas, it has been the owner of the betting brand since April of this year. online William Hill.
Not one of the analysts who follow its evolution opt for the sale of its shares. The other way around, 11 of the 14 that issue advice on the company recommend buying (78.6%), while only three opted for the prudence of maintaining positions (21.4%).
Better known, less potential
Four other listed companies in the sector also enjoy consensus upside potential, although more moderate. These are the British Flutter Entertainment, Betsson, Entain and 888 Holdings, whose sports betting brands enjoy greater diffusion among the Spanish public. A factor that may perhaps make them more attractive to some investors.
In the case of Flutter Entertainmentwhich is the header of Paddy Power y Betfair, the potential is 23.3% compared to its current price on the London Stock Exchange. 58.8% of the analysts who follow its evolution recommend buying its shares. As regards the Swedish Betssonthe potential reaches 21% although it only reaps one buy advice and two to hold.
The bull field for Entain is 15% from its current stock valuation. 88% of the analysts believe that the firm that owns brands such as Bwin y Ladbrokes Coral must be purchased, the highest percentage in this sense in the entire sector. No one advises its sale and the remaining 12% opts to maintain positions without changes.
So it refers to 888 Holdings, the potential is reduced to 2% in the London parquet. In addition, the experts are much less enthusiastic, as no less than ten of the dozen research houses that give their opinion on the stock are in favor of selling.
Be careful with Codere
A lot of caution is the one that also reigns around the Spanish Coder, which so far this year has lost 63% of its market value. immersed in a deep debt restructuring and refinancing process that keeps the founding family, the Martínez Sampedro, on a war footing is planning its own delisting and the market launch of your business online through a SPAC.
Invertia’s analyst, Eduardo Bolinches, explains that his chart shows a “clear acceleration of the corrective pattern after the highs of last May”. In this process, the supports of 0.77 euros and 0.54 euros per share have already been carried forward.
In his view, the recovery of this last level “is vital to be able to assess some type of more lasting reaction over time.” However, he considers that “most likely it cannot and a new correction has begun to test and lose the recent lows of 0.447 euros per share” despite the fact that there are finally the Olympic Games this summer.
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