Paddy Power stock raised to ‘buy’

PADDY POWER PLC, Ireland’s biggest bookmaker, gained the most in five months in Dublin trading after Goldman Sachs raised the stock to “buy” from “neutral”.

Goldman reduced its price estimate on Paddy Power to €24.90 from €28.40. It estimates earnings per share will increase to €1.44 this year and €1.51 in 2009. The bookmaker had earnings of €1.25 per share in 2007.