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Broker Chops William Hill Starting Price

UNITED KINGDOM –As reported by the UK Telegraph: "Punters collected their winnings on bookmaker William Hill yesterday after Merrill Lynch published a bearish note on the stock.

"The broker initiated coverage on the company with a sell recommendation and a price target of 285p - 36p below William Hill's opening price. Merrill analyst Andrew Burnett said: `We forecast no like-for-like growth from here, with a high risk of the lucrative casino-style games being removed.'

"Traders said the broker's negative comments coincided with investors' profit-taking which follows William Hill's recent rise to a year high of 331.5p. The stock, which was worth 198p in March, fell 4.25 to 316.75p…"

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