Finance

Analysis: Is Paddy Power Betfair in trouble?

The firm has seen its share price dip to new lows, but is the market’s bearishness justified?

Paddy Power Betfair (PPB) yesterday saw its share price plunge to its lowest level since the merger, with valuations down almost 30% from its post-combination peak. The catalyst was another poor set of results that saw online revenues fall 2% and group EBITDA drop 6%cc. Analyst firm Shore Capital was one of the bears, downgrading…

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