Consumer Discretionary
Last week the gambling software company confirmed it was in discussions with Flutter over a possible £2bn Snaitech sale. PTEC was highlighted as a Buy during one of Revelare’s idea events in Nov last year and they think the report is still worth reading. The presenter provided details on the disagreement between PTEC and Caliente. He also discussed a number of levers that he believes could leave the stock being worth c.£43.00 vs. its current price of £6.50!
Edition: 193
- 23 August, 2024
Consumer Discretionary
888 is unlikely to accept a takeover offer for the time being, according to CTFN's industry sources. This follows an article in the Sunday Times reporting that Playtech made a £1.56 per share offer for the company earlier this year. DraftKings has also held talks with certain 888 shareholders about an acquisition, but CTFN's sources said the company's founding shareholders, the Shaked family, would be unlikely to accept even a £2 per share deal. 888 is operating under new leadership and has a favourable debt package that gives it until 2027 to execute a turnaround.
Edition: 175
- 08 December, 2023
UK Mid Cap Technical Review
The FTSE 250 index finds support at the bottom of the 2023 range but is still losing relative momentum vs. the FTSE 100 index. Messels continues to see selective improvement in IT Services stocks such as Computacenter (renews price and relative bases at 2020 peaks), Kainos (has rallied from support at the bottom of recent ranges) and Softcat (finding 6-year uptrend support). They have a new Buy on Playtech (reaches support from the prior range and holds the relative base). In Real Estate, they highlight opportunities in Big Yellow and Safestore. They have also closed their long in Plus500 after the stock found resistance at the highs and lost relative momentum.
Edition: 158
- 14 April, 2023