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CWNHB - Crown Resorts News Story

A$92 0.2  0.2%

Last Trade - 2:59am

Sector
Consumer Cyclicals
Size
Large Cap
Market Cap £3.51bn
Enterprise Value £3.99bn
Revenue £1.26bn
Position in Universe 88th / 1827

BUZZ-Pausing the play: MS cautious on outlook for Australian gaming stocks amid fresh virus fears

Tue 21st July, 2020 1:52am
** Morgan Stanley revisits its price targets and rating on
Australian gaming stocks ahead of the reporting season and in
light of fresh lockdown amid a spike in coronavirus cases
    ** Lifts near-term forecast for Aristocrat Leisure  ALL.AX 
as U.S. casinos have reopened earlier than it had expected
    ** However, remains cautious on FY20/21 EBITA estimates for
ALL due to fears of a second wave of virus infections in the
United States
    ** For Crown Resorts Ltd  CWN.AX , broker lowers FY21 and
FY22 EPS estimates by 11.6% and 6.7% respectively, citing a
slower recovery due to rising coronavirus cases in Victoria
    ** Lifts rating on Star Entertainment Group  SGR.AX  to
"equal-weight" from "underweight", but lowers EPS forecast for
FY20/21/22 due to continued restrictions in Sydney
    ** Raises price target on Tabcorp Holdings  TAH.AX  to
A$3.40 from A$2.60, but warns that co's balance sheet is
stretched and uncertainty on wagering competition remains
    ** SGR climbs over 4%, while TAH gains 1.8%

 (Reporting by Shruti Sonal in Bengaluru)
 ((Shruti.Sonal@thomsonreuters.com; Twitter: @shrutisonal26))
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