0136 GMT - Jumbo Interactive's former bulls at Morgan Stanley see limited scope for the stock to rerate until organic growth picks up and key overhangs are resolved. Lowering their recommendation on the lottery ticket retailer to equal-weight from overweight, MS analysts tell clients in a note that they see uncertainty over how the U.K. taxes prize draws weighing on the stock. They point out that the sector is also under increased scrutiny in the U.K. and that legislative intervention is possible. On top of this, they also want a resolution to negotiations with Lottery Corp. MS cuts its target price 42% to 8.40 Australian dollars. Shares are down 16% at A$6.47. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

June 24, 2026 21:36 ET (01:36 GMT)

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