Sportingbet "buy"

11/25/04 - Arbuthnot

LONDON, November 25 (newratings.com) - Analysts at Arbuthnot Securities reiterate their "buy" rating on Sportingbet (STI). The target price is set to 185p.

In a research note published this morning, the analysts mention that the company reported robust FQ1 results. Sportingbet's recently acquisition of Paradise Poker would strengthen the company's growth prospects and earnings quality in the forthcoming quarters, the analysts say. The company has announced that the integration of Paradise Poker is progressing well, Arbuthnot Securities adds.