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Important information: The value of investments can go down as well as up so you may get back less than you invest. Investors should note that the views expressed may no longer be current and may have already been acted upon. This is a third-party news feed and may not reflect Fidelity’s views.

Barclays downgrades Entain to 'equalweight'

(Sharecast News) - Barclays downgraded Entain on Tuesday to 'equalweight' from 'overweight' and cut the price target to 1,070p from 1,120p, as it said "the recovery is not straightforward". "For the stock to work we think it needs Online to return to market growth rates or better and US share to stabilise (and grow)," Barclays said, adding that "neither are a given".

The bank said there is little free cash flow and high leverage restricts M&A.

"A new CEO could address the balance sheet," it said.

"The stock appears cheap but risk-reward is fairly balanced here so we downgrade to EW."

At 0935 GMT, the shares were down 1.8% at 971.60p.

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Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.

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