ALL – Macquarie rates the stock as Outperform

By Broker News | More Articles by Broker News

First-half net profit was down -13% to $368m but Macquarie envisages a path for net profit to exceed $1bn in FY22, supported by gains in market share, both in land-based games and digital.

Land-based casino revenues are generally resilient, the broker points out, and likely to rebound quickly. M&A would also accelerate an earnings recovery and the broker considers Aristocrat Leisure well placed in terms of liquidity.

Outperform rating maintained. Target is reduced to $29.50 from $32.00.

Sector: Consumer Services.

Target price is $29.50.Current Price is $26.29. Difference: $3.21 – (brackets indicate current price is over target). If ALL meets the Macquarie target it will return approximately 11% (excluding dividends, fees and charges – negative figures indicate an expected loss).

Broker News

About Broker News

FNArena's Australian Broker Call, is your daily news report on the latest recommendation, valuation, forecast and opinions recently published by Stockbrokers.

View more articles by Broker News →