Ladbrokes "buy"

01/02/07 - Dresdner Kleinwort Wasser.

LONDON, January 1 (newratings.com) - Analysts at Dresdner Kleinwort maintain their "buy" rating on Ladbrokes Plc (LAD-GBX). The target price is set to 480p.

In a research note published this morning, the analysts mention that the company achieved favourable results during the Christmas season, after disappointing results in October and November. The results of the Italian Betting Tender, released on December 28, 2006, show that Ladbrokes won licenses to open 91 betting shops, representing 3.5% of the total number of licenses granted, the analyst says. The company aims to continue to seek more licenses in the next three-to-five years.