Australia's EVT rises, Morgan Stanley raises price target, sees 'undervalued' stock

EVT

26/05/2025 01:31

** Shares of cinema chain operator EVT EVT.AX rise 1.72% at A$15.38

** Morgan Stanley raises price target, views stock as "undervalued"

** Brokerage expects EPS growth at 3-year compound annual growth rate of 12%

** Sees improving box office supply, with wide releases reaching pre-COVID levels by CY26e, marking a ~22% increase from CY24-CY26e

** Consensus underestimates the operating leverage in the cinema business - MS

** EVT stock up 32.9%, as of last close

 (Reporting by Kumar Tanishk in Bengaluru)

 ((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk;))