Game installation data in NSW have revealed Aristocrat Leisure has suffered a -35-40% decline in volumes and captured 55% ship share, its lowest share since 2015. NSW accounts for about half of Australia’s gaming machine shipments.
Credit Suisse reduces FY19 estimates for earnings per share by -1.8%. The main upside for the stock is management’s ability to set the digital division on a medium-term growth trajectory, in the broker’s view.
Outperform rating maintained. Target is $30.
Sector: Consumer Services.
Target price is $30.00.Current Price is $29.24. Difference: $0.76 – (brackets indicate current price is over target). If ALL meets the Credit Suisse target it will return approximately 3% (excluding dividends, fees and charges – negative figures indicate an expected loss).
