Paddy Power down over 5% after Davy cuts rating

Shares in bookmaker Paddy Power was down 5.6 per cent a short time ago after Davy cut the rating on the stock earlier today.

22nd April, 2013
Paddy Power was downgraded to “underperform” from “outperform”.

Shares in bookmaker Paddy Power was down 5.6 per cent a short time ago after Davy cut the rating on the stock earlier today.

The share price fall was the biggest suffered by the company since August 2012.

Paddy Power was downgraded to “underperform” from “outperform” by analysts David Jennings and Simon McGrotty. The analysts said among their concerns were the company’s entry into the “faltering” Italian market and its exposure to the UK....

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