Negative broker report greets new PP Betfair chief

Shares fall as Morgan Stanley analysts say Peter Jackson faces challenges to increase online revenue growth

Peter Jackson takes over as Paddy Power Betfair chief executive. Pic: Getty

Peter Jackson officially took over as chief executive of gambling giant Paddy Power Betfair on Monday morning.

Butthe challenges facing Paddy Power’s sixth chief executive in 17 years were underlined by a fall in the group’s share price after analysts at broker Morgan Stanley cut their recommendation on the shares.

Morgan Stanley lowered its recommendation on Paddy Power Betfair to underweight, the first time it has taken a negative stance since the company ...