Australia's Tabcorp at two-year high after Morgan Stanley lifts price target

Tabcorp Holdings

03/09/2025 06:43

** Shares of Australia's Tabcorp Holdings TAH.AX rise as much as 3.5% to A$1.045, their highest level since September 7, 2023

** Morgan Stanley raises price target for Tabcorp to A$1.15 from A$0.78

** Brokerage maintains its "overweight' rating for co as it sees further refinement of the retail operating model to support retail margin expansion, others, helping Tabcorp

** Brokerage increases its FY26-28 EBITDA estimates for co by an average of about 11%

** Product innovations will allow TAH to better leverage its licenses with an offering that can't be replicated by competitors, Morgan Stanley says

** YTD, stock has gained 84.5%

 (Reporting by Anjali Singh in Bengaluru)

 ((anjali.singh2@thomsonreuters.com;))