The Codere share price has advanced to 10.70 Euros from 9, according to the UBS inform. UBS, one of the world’s leading financial firms, considerers that currently it is a good moment to buy these titles.

Market analysts believe in Codere because the economic results presented recently by the company are strong and the forecasts for 2010 are good too. Once again, as in the case of many other Spanish companies, Codere’s Latin American business has grown faster than expected and the activity in the Spanish market has remained stable.

Concerning revenues from the Latin American market, the company is returning to pre-crisis level. This represents 80% of its global revenues. Furthermore, this region offers significant opportunities for gaming business expansion with a very high rate of return.

Other positive factors considered by UBS analysts are the latest economic results backed by the soundness of the company and stability of its shareholding structure due to the control of 67% of shares by the Martinez family.

They conclude: "The new share price is formed taking into account the changing Argentinian regulation but excluding payments outstanding in Mexico by 99 million Euros".

Source: Bolsamania.com