Morgans likes the strategic rationale behind Jumbo Interactive’s acquisition of UK-based external lottery manager, StarVale Group.
The broker now forecasts FY23 profit (PBT) growth of 24.3%, with 14.4% derived from acquisitions (StarVale and Stride) and the balance via organic growth. The target price rises to $20.75 from $20.20 and the Add rating is maintained.
Sector: Consumer Services.
Target price is $20.75.Current Price is $17.28. Difference: $3.47 – (brackets indicate current price is over target). If JIN meets the Morgans target it will return approximately 17% (excluding dividends, fees and charges – negative figures indicate an expected loss).
