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BUZZ-William Hill: hits 1-yr low on Investec downgrade

Reuters - UK Focus

** William Hill (Frankfurt: 633847 - news) -4 pct at lowest level in a year

** Investec (LSE: INVP.L - news) downgrades stock to "sell" from "hold", cites credit betting ban in Australia, a change in revenue mix in Australia and higher central costs

** "We see further headwinds for William Hill with tough comparables given the Euros in 2016, very poor GWMs (gross win margins) in all four divisions in the last 2 months of H117E" Investec says

** Broker also cuts TP to 245p from 279p

** Near bottom of Stoxx 600 as well as UK's FTSE 250

** Up to Monday's close, the stock had lost ~10 pct of its value YTD