UK's Playtech falls after Jefferies rating and PT cut

Evolution AB (publ)

25/11/2025 08:59

** Shares of British gambling firm Playtech  PTEC.L down 3.44% at 238.5 p, among top losers on London's mid caps index .FTMC which is up 0.07%
** Jefferies cuts rating to "hold" from "buy"

** Brokerage cuts target price to 240 p from 405 p

** Brokerage says cuts reflect uncertainty stemming from co's legal dispute with Swedish gaming company Evolution EVOG.ST

** EVOG said that it would add PTEC to a defamation lawsuit, alleging that one of co's units commissioned a report meant to damage EVOG's reputation and business operations

** 4 of 6 brokerages rate the stock "buy" or higher, and 2 "hold"; their median PT is 471.50 p - LSEG data
** Up to Monday's close, stock had fallen 13.9%, compared with a 3.9% increase in FTMC

(Reporting by Simone Lobo)

((Simone.Lobo@thomsonreuters.com, +919920570373))