Aussie bookmaker Tabcorp gains; E&P re-launches coverage with 'positive'

Tabcorp Holdings

04/03/2024 01:46

** Shares of Australia's Tabcorp  TAH.AX  rise as much as 2%
to A$0.75
    ** Analysts at E&P Capital re-launch coverage on the
bookmaker with A$0.92/share valuation
    ** Brokerage gives "positive" recommendation to stock
    ** Says co is currently working to see if it can achieve a
level-playing-field outcome in New South Wales and South
Australia as it has already in Victoria
    ** E&P believes co achieving a level-playing field could be
a good catalyst for investors
    ** Forecasts "substantial" net profit after tax growth over
fiscal 2024-2026 post the commencement of the new Victorian
retail license
    ** Stock has fallen 12% this year, as of last close

    

 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))