BUZZ-Australia's Tabcorp climbs as Jefferies names it top pick among gaming cos; peers lag

Reuters
Jan 12
BUZZ-Australia's Tabcorp climbs as Jefferies names it top pick among gaming cos; peers lag

** Australia-listed gaming firm Tabcorp TAH.AX rises 3.1%; peer Aristocrat ALL.AX, Lottery Corp TLC.AX slip 0.2% and 0.4%, respectively

** Jefferies lifts PT, citing earnings upside on wagering rebound, self-help beyond yield-hit H1

** Stays constructive on Aristocrat, but sees shares range-bound without Interactive segment ramp-up or M&A clarity

** Retains "Hold" on Lottery Corp after jackpot-driven rev dip drags H1, but sees growth picking up in H2

** However, flags uncertainty on balance sheet, VIC licence timing and CEO strategy

** Last year, TAH, TLC gained 75.2% and 4.5% respectively; ALL lost 14.9%

STOCK

RATING

OLD PT (A$)

NEW PT (A$)

ALL

Buy

71

-

TAH

Buy

1.07

1.20

TLC

Hold

5.90

5.65

(Reporting by Kumar Tanishk in Bengaluru)

((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk http://www.x.com/thatstanishk;))

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