Citi hikes PT for Australia's EVT on entertainment outlook, box office strength

EVT

27/07/2025 20:14

** Citi hikes its price target (PT) for shares of entertainment co EVT EVT.AX by 12% to A$18.15, reiterates 'buy' rating

** Brokerage notes box office strength given the success of recent film releases

** Hikes its net profit after-tax (NPAT) forecasts for fiscal 2025 and 2026 by 5% and 2%, respectively, on strengthened confidence towards the entertainment business in the 'near term'

** Sees a strong FY26 for co, citing strong performance of films launched in June and July, and a strong 'event pipeline' in 1H26 for its hotels segment

** 6 analysts rated 'buy' on avg, median PT is A$18.15, per LSEG-compiled data

** Shares of co up 40.2% YTD at A$15.86

 (Reporting by Nichiket Sunil in Bengaluru)

 ((Nichiket.Sunil@thomsonreuters.com))