Business Services Industry
Evening Standard, London, Market Report Column.
Knight Ridder/Tribune Business News, March, 2003
By Michael Clark, Evening Standard, London Knight Ridder/Tribune Business News
Mar. 10--All the wrong numbers were coming up for holders of shares in gaming operator Wembley today as the price slumped 41 1/2 pence, or almost 6 percent, to 691 pence. Broker Merrill Lynch has issued a "wealth warning" on the stock, claiming Wembley has become a high-risk play for investors.
Merrill has also reduced its recommendation on the shares from buy to neutral while raising its risk rating from B to C -- its highest. It is sticking with its target price of 1400.
Last week the gaming group warned of a significant possibility of claims or charges resulting from a US Grand Jury investigation into alleged financial malpractices at its Lincoln Park...
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