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P 153 152.5 152 20 July 151 150 149 148 147 146 14 July 15 July 18 July 19 July 20 July

Peel Hunt gave gambling titan 888 a 'Buy' rating yesterday, citing the fact that the stock is currently trading on a single-digit PE despite the immense potential for profits thanks to £100m of targeted cost synergies and revenue growth. However, brokers downgraded the target price for the company from 600p to 500p due to the high cost of debt funding the William Hill acquisition.

DIRECT LINE INSURANCE

P 230 20 July 199 220 210 200 190 14 July 15 July 18 July 19 July 20 July

Peel Hunt maintained its 'Add' rating for Direct Line yesterday, stating that the company was "being forced to catch-up with accelerating claims inflation across its Motor book as margins begin to erode". Brokers said they remain confident that the "diversified model will remain resilient". Despite this view, they dropped the target price for the insurance firm from 315p to 220p.

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