Sportingbet "buy"

02/22/05 - Arbuthnot

LONDON, February 22 (newratings.com) - Analysts at Arbuthnot Securities maintain their "buy" rating on Sportingbet (STI). The target price is set to 320p.

In a research note published this morning, the analysts mention that the company reported its Q2 and interim results marginally ahead of the estimates, driven by its Paradise Poker segment. The organic growth of Sportingbet's core businesses is likely to be robust during the forthcoming few quarters, the analysts say. The company's margins are continuing to recover, Arbuthnot Securities adds.