Australia's Lottery Corp set for worst day in 7 months as Jarden cuts PT

Lottery

24/05/2024 05:30

** Shares of casino and gaming co Lottery Corporation
 TLC.AX  down as much as 2.8% at A$4.960, set for worst day
since Oct 13, 2023, if losses hold 
    ** Brokerage Jarden cuts PT for firm to A$5.20 from A$5.30,
retains "neutral" rating
    ** Jarden increases FY25 and FY26 opex growth forecast from
FY24 estimate of A$300 mln base    
    ** Brokerage flags potential future earnings hits from
digital penetration and changing consumer preferences 
    ** Stock hits lowest level since May 7
    ** TLC stock up 5.4% YTD, as of last close

    

 (Reporting by Adwitiya Srivastava in Bengaluru)
 ((Adwitiya.Srivastava@thomsonreuters.com;))