Australia's EVT rises; Morningstar expects Middle East conflict to hit company's hotel business

EVT

01/05/2026 03:56

** Shares of Australian conglomerate EVT EVT.AX up 0.9% at A$12.075, while broader Australian benchmark .AXJO gains 1%

** Morningstar says Middle East conflict beginning to hurt EVT's hotel unit

** Brokerage cuts FY26 operating earnings outlook for group by 5%, says international guests reassessing travel to AUNZ, even demand from domestic travelers waning due to rising economic uncertainty from conflict

** Morningstar, however, highlights cinemas business performing towards expectations, says Netflix losing bid to buy Warner Bros a positive, ensuring continued steady supply of films

** All six analysts rate EVT stock "buy" or higher with median PT A$16.40, as per LSEG-compiled data

** Shares down 3.7%, YTD

 (Reporting by Nichiket Sunil in Bengaluru)

 ((Nichiket.Sunil@thomsonreuters.com))