Morgan Stanley notes a strong first quarter compared to forecasts for Jumbo Interactive. Revenue of $25.5m in the period was up 19.7%, in-line with full year forecasts but the Stride acquisition is expected to provide a $3-4m contribution to the second half. 

The first trials of new player acquisitions on the Powered by Jumbo platform for LotteryWest will also take place in the second quarter.

The Overweight rating and target price of $18.50 are retained. Industry view: In-line.

Sector: Consumer Services.

Target price is $18.50.Current Price is $16.73. Difference: $1.77 - (brackets indicate current price is over target). If JIN meets the Morgan Stanley target it will return approximately 10% (excluding dividends, fees and charges - negative figures indicate an expected loss).

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