Yesterday Bwin.Party Digital Entertainment Plc’s share price fell to a low of £1.51, having traded at a high of £1.65 the day before. The fall was on the back of Macquarie down grading the shares target price from 180p to 145p.
Macquarie downgraded the stock to “underperform”, the rationale behind the advice was that the gambling giant will be affected by financial downturns in Greece and Spain, markets in which currently contribute a large portion of BPTY’s revenue. Further negativity surrounding the stock concerned the fact that the regulatory environment for some of it’s key markets looks set to become more stringent.
In today’s trading the stock has rallied somewhat and currently is trading at £1.54, having touched £1.57 earlier in the day.