Jefferies sees Australia's Pointsbet Holdings as M&A target; upgrades PT & rating

Tabcorp Holdings

28/11/2023 21:57

** Analysts at Jefferies believe Pointsbet Holdings  PBH.AX 
is a likely M&A target for a larger competitor such as Tabcorp
Holdings  TAH.AX  in the hotels and casino services sector
    ** Brokerage upgrades PT to A$0.91 from A$0.80, upgrades
stock rating to "buy" from "hold"; sees co having a clear path
to profitability ahead and substantial earnings growth
    ** Analysts are of the view that PBH's technology as well as
younger demographic customer base make it a suitable M&A target
for Tabcorp
    ** Four of five analysts rate stock "buy" or higher, one
rates "hold"; their median PT is A$0.95 - LSEG data
        ** Stock up 31.0% YTD, as of last close

 (Reporting by Shivangi Lahiri in Bengaluru)
 ((Shivangi.Lahiri@thomsonreuters.com;))