Australia's Jumbo Interactive jumps as Morgan Stanley retains 'overweight'

Jumbo Interactive

10/01/2024 03:21

** Shares of Australia's Jumbo Interactive  JIN.AX  rise as
much as 2.9% to A$13.870 as Morgan Stanley retains "overweight"
rating 
    ** Stock at its highest since Jan 3; on track to record its
biggest intraday gain since Dec 20
    ** Morgan Stanley says "JIN might connect its charity
customers (product) with its consumer base to deliver high
margin sales incremental to expectations"
    ** The broker forecasts FY24 H1 sales revenue of co at
A$69.0 million ($46.24 million), compared with FY23 H1 sales of
A$62.4 million 
    ** Five analysts rate the stock "buy", one "hold" and one
"sell"; their median PT is A$16.23 – LSEG data
    ** Stock fell 0.5% last year


($1 = 1.4923 Australian dollars)

 (Reporting by Neha Soni in Bengaluru)
 ((Neha.Soni@thomsonreuters.com))