Citi views cinema leases of Australia's EVT to be advantageous

EVT

18/12/2022 20:46

** Analysts at Citi view Event Hospitality and Entertainment
Ltd's  EVT.AX  cinema leases to be advantageous for co 
    ** Brokerage rates the entertainment, hospitality and
leisure services provider "buy" with a target price of A$17.85
    ** Says cinemas are a key driver of foot traffic to shopping
centres, particularly outside normal retail trading hours
    ** "Event remains our top pick in small cap leisure" - Citi 
    ** However, Citi notes that EVT’s fixed rental agreements
are relatively conservative when compared to its peers 
    ** 4 of 6 analysts rate the stock "buy" or higher and 2
"hold" ; their median PT is A$17.30 - Refinitiv Data
    ** Shares of co are down 12.4% YTD as of last close 
 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))