0950 GMT - Playtech posted another good update, with momentum across key markets remaining strong, Goodbody Research analyst David Brohan writes in a research note. The paper-based packaging company has a highly complementary portfolio with WestRock, and pretax synergies of $400 million are targeted, with an estimate one-off cash cost of $235 million, Goodbody analyst David O'Brien says in a research note. Such a performance contradicts its weak share price since the start of the year as the stock's value has fallen 31% since then. "We expect the slow ramp-up and production downgrade to disappoint and FY23 consensus expectations will likely reduce as a result," they say. (christian.moess@wsj.com)Contact: London NewsPlus, Dow Jones Newswires;(END) Dow Jones NewswiresSeptember 07, 2023 06:31 ET (10:31 GMT)Copyright (c) 2023 Dow Jones & Company, Inc.

Source: Wall Street Journal September 07, 2023 10:35 UTC