Paddy Power Betfair in talks to buy Fanduel

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Should the acquisition take place, Paddy Power Betfair would gain access to a database of millions of DFS players, thus expanding its network of customers from both the TVG and Draft DFS platforms.

PPB has been the topic of a number of other research reports. Peel Hunt's target price would suggest a potential downside of 3.35% from the company's previous close. They now have a GBX 7,500 ($101.74) target price on the stock. JPMorgan Chase increased their target price on Paddy Power Betfair from GBX 8,420 ($114.22) to GBX 8,690 ($117.88) and gave the company a "neutral" rating in a report on Friday, January 12th. Deutsche Bank reissued a "buy" rating on shares of Paddy Power Betfair in a report on Friday, March 9th. Finally, Numis Securities restated a "hold" rating and set a GBX 8,320 ($112.86) price objective on shares of Paddy Power Betfair in a research report on Wednesday, March 14th. The stock has an average rating of "Hold" and an average price target of GBX 7,852.50 ($109.52). The company had a trading volume of 190,240 shares, compared to its average volume of 192,747. Paddy Power Betfair has a 12-month low of GBX 6,572.50 ($91.67) and a 12-month high of GBX 8,967 ($125.06).

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According to a report from the British Broadcasting Corporation (BBC), Dublin-headquartered Paddy Power Betfair entered the American daily fantasy sports market previous year following its $48 million purchase of PlayDraft.com and stated earlier today that it is now considering a move for FanDuel Incorporated in order "to create a combined business to target the prospective United States sportsbetting market".

They closed up a further 6% on Wednesday at £82.15 as markets digested the potential for the company to add FanDuel to its existing U.S. operation. Company officials hope to be licensed and offering online casino games and sports betting by 2019.

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