Google reviews suggest both Main Event and Dreamworld are seeing improved customer momentum, leading the broker to reiterate its Buy rating on Ardent Leisure. Underpinning the view is recent corporate interest in the entertainment sector globally, reflected, amongst other activity, by the recent takeover offer for Village Roadshow ((VRL)).
Headwinds nevertheless persist in the US casual dining sector, leading to a target price cut to $1.73 from $1.75.
Sector: Consumer Services.
Target price is $1.73.Current Price is $1.42. Difference: $0.31 – (brackets indicate current price is over target). If ALG meets the Citi target it will return approximately 18% (excluding dividends, fees and charges – negative figures indicate an expected loss).
