The re-opening of Whitewater World and Dreamworld is a positive first step in recovery of the companys theme parks after the tragedy last month, Deutsche Bank believes.
The impact on the near-term outlook is still uncertain and the company has not provided any commentary on other businesses. The broker expects momentum achieved in bowling to be sustainable while the performance of Main Event continues to be strong.
A Hold rating is retained and the target is reduced to $2.50 from $2.80.
Sector: Consumer Services.
Target price is $2.50.Current Price is $2.14. Difference: $0.36 – (brackets indicate current price is over target). If AAD meets the Deutsche Bank target it will return approximately 14% (excluding dividends, fees and charges – negative figures indicate an expected loss).