Citi expects Australia's Aristocrat Leisure to post stronger FY23 results

NeoGames SA

12/11/2023 22:22

** Analysts at Citi expect Aristocrat Leisure  ALL.AX  to
report a jump in fiscal 2023 results during its reporting date
on Nov. 15
    ** Sees 15% year-on-year growth in FY23 EBITA to A$1,840 mln
($1.17 bln)
    ** Brokerage says expected result mainly due to
outperformance in co's gaming and technology segments as well as
its Americas land-based business
    ** Citi expects the America's land-based business segment,
which includes offline gaming operations, to report 17% revenue
and EBITA growth in 2H23
    ** Brokerage says growth in real money gaming, supported by
the pending NeoGames acquisition provides further upside to co's
results
    ** The brokerage retains price target for co at A$42.80;
maintains "Buy"
    ** 10 of 11 analysts rate the stock "buy" or higher and one
"hold"; their median PT is A$46.50 – LSEG data
    ** Stock up ~32% this year, as of last close

($1 = 1.5733 Australian dollars)

 (Reporting by Sherin Sunny in Bengaluru)
 ((Sherin.Sunny@thomsonreuters.com))