TAH - Credit Suisse rates the stock as Outperform
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Victoria has announced that it will replace the existing state wagering tax with a point of consumption tax that catches all wagering operators in the country. This will come into effect of January 1, 2019. The point of consumption tax is set at 8%.
Credit Suisse regards this development as positive for Tabcorp. It increases the costs for competitors and, by FY20, may constrain marketing activities of competitors.
Credit Suisse maintains an Outperform rating and $5.20 target.
Sector: Consumer Services.
Target price is $5.20.Current Price is $4.55. Difference: $0.65 - (brackets indicate current price is over target). If TAH meets the Credit Suisse target it will return approximately 13% (excluding dividends, fees and charges - negative figures indicate an expected loss).
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