Tabcorp's New Bull Says Selloff Is Overdone -- Market Talk

Dow Jones

05/29

0053 GMT - Tabcorp gets a new bull at Morgans on what analyst Leo Partridge reckons is an overdone share-price reaction to a regulatory investigation into the Australian bookmaker. Raising his recommendation to buy from accumulate, Partridge tell clients in a note that the stock is materially undervalued after falling 37% since financial-crimes watchdog AUSTRAC said it was looking into potential noncompilance with its anti-money laundering obligations. He says he is cautious on the ultimate outcome but thinks that the market is pricing in the most bearish scenario. The business still appears to be on track to outperform in the near term, he adds. Morgans cuts its target price 11% to A$1.07. Shares are up 5.8% at A$0.7725. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

May 28, 2026 20:53 ET (00:53 GMT)

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Raising his recommendation to buy from accumulate, Partridge tell clients in a note that the stock is materially undervalued after falling 37% since financial-crimes watchdog AUSTRAC said it was looking into potential noncompilance with its anti-money laundering obligations. He says he is cautious on the ultimate outcome but thinks that the market is pricing in the most bearish scenario. The business still appears to be on track to outperform in the near term, he adds. Morgans cuts its target price 11% to A$1.07. Shares are up 5.8% at A$0.7725. 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","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"TAH.AU":"TABCORP HOLDINGS LTD","BK7078":"赌场与赌博"},"translate_title":"Tabcorp的新牛市称抛售过度——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"TAH.AU":0.9},"content_text":"0053 GMT - Tabcorp gets a new bull at Morgans on what analyst Leo Partridge reckons is an overdone share-price reaction to a regulatory investigation into the Australian bookmaker. Raising his recommendation to buy from accumulate, Partridge tell clients in a note that the stock is materially undervalued after falling 37% since financial-crimes watchdog AUSTRAC said it was looking into potential noncompilance with its anti-money laundering obligations. He says he is cautious on the ultimate outcome but thinks that the market is pricing in the most bearish scenario. The business still appears to be on track to outperform in the near term, he adds. 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