Crown Resorts logo

CWNHB - Crown Resorts News Story

A$92 0.2  0.2%

Last Trade - 2:59am

Consumer Cyclicals
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)
 ((; Twitter: @shrutisonal26))
© Stockopedia 2020, Refinitiv, Share Data Services.
This site cannot substitute for professional investment advice or independent factual verification. To use it, you must accept our Terms of Use, Privacy and Disclaimer policies.