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Deutsche Bank downgrades Rank Group, slashes price target
(Sharecast News) - Rank Group slid on Friday after Deutsche Bank downgraded the shares to 'hold' from 'buy' and slashed the price target to 104p from 163p as it updated its view on the European gaming sector. In the same research note, Deutsche also downgraded Evoke to 'hold' from 'buy' and cut the price target significantly to 35p from 108p.
"We see several of the major themes from 2025 continuing to drive the narrative and share prices for the sector into 2026," DB said.
It pointed out that while taxes on the online UK market are known, responses from operators and customers are yet to be seen.
At 0930 GMT, Rank shares were down 4.6% at 93.85p, while Evoke - formerly 888 Holdings - was 1% lower at 29.90p.
Rank owns Grosvenor Casinos and Mecca Bingo, while Evoke owns William Hill and Mr Green, among others.
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