Australia's Pointsbet jumps most in 4 weeks on higher Q4 net win

PointsBet Holdings

28/07/2023 04:24

** Shares of Pointsbet Holdings Ltd  PBH.AX  rise as much as
6% to A$1.760, their highest level since July 3
    ** The corporate bookmaker posts fourth-quarter group net
win of A$102 mln ($68.22 mln), up 19% on prior corresponding
period 
    ** Brokerage Ord Minnett says the Q4 net earnings came in
line with brokerage expectations 
    ** Brokerage has "buy" rating and A$1.70 per share price
target on co 
    ** Stock set to gain most since July 14, if trend holds 
    ** Four of seven analysts rate the stock "buy" or higher,
two "hold" and one "sell"; their median PT is A$1.60 – Refinitiv
data
    ** Stock up 11.8% this year, as of last close

    ($1 = 1.4952 Australian dollars)

 (Reporting by Poonam Behura in Bengaluru)
 ((Poonam.Behura@thomsonreuters.com;))