The owner of one of the largest CFD brokers has seen its stock rated as a ‘buy’ by leading analysts. GVC Holdings PLC, the parent company of Inter Trader.
One of the leading forex broker services in the UK, saw its stock rated as a ‘buy’ by Investec in a research report issued to clients and investors.
InterTrader is part of the GVC family and was launched in 2016. The top CFD broker provides no dealing desk CFDs and spread betting with 100% market-neutral execution. Inter Trader offers low-cost trading on a wide range of markets via the MT4 platform or their own web-based platform.
Parent company GVC Holdings PLC is an Isle of Man based multinational sports betting and gaming group, traded on the Main Market of the London Stock Exchange. The Company operates through two segments: sports and gaming and the sports segment includes bets placed on sporting events in the year. As well as InterTrader, GVC also operates bwin, sporting bet and Foxy Bingo.
The latest Investec research report restated a ‘buy’ rating on GVC stock. The analysts currently have a £7.60 price target on the stock – a potential upside of around 10% from the current price of around £6.90.
Other analysts have also supported the stock. Canaccord Genuity raised their price target on shares of Inter Trader’s parent GVC from £7.20 to £7.55 and gave the company a ‘buy’ rating in a recent research note.
Liberum Capital and Berenberg Bank also restated a ‘buy’ in recent research notes, issuing a price target of £7.38 and £7.60 respectively.
The stock currently has an average rating of ‘buy’ and a consensus target price of £6.81. GVC has a one year low of £3.69, a one year high of £11.80 and a 50-day moving average of £7.28. The stock’s market cap is £2.02 billion.
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Richard founded the Good Money Guide (previously Good Broker Guide) in 2015 and has been a broker for 20 years most recently at Investors Intelligence and previously a multi-asset derivatives broker at MF Global (Man Financial). Richard started his career working as a private client stockbroker at Walker Crips and Phillip Securities (now King and Shaxson) after interning on the NYMEX oil trading floor in New York and London IPE in 2001 & 2000.