Tabcorp will seek to partially mitigate the impact on its business as hotels & clubs which offer its wagering & gaming services close. This will be done by reductions in expenditure and pushing digital product.
There is a risk around further sports and racing cancellations and closures to convenience outlets that distribute lottery products.
Equal-weight rating maintained. Target is $4.50. Industry view: Cautious.
Sector: Consumer Services.
Target price is $4.50.Current Price is $2.18. Difference: $2.32 - (brackets indicate current price is over target). If TAH meets the Morgan Stanley target it will return approximately 52% (excluding dividends, fees and charges - negative figures indicate an expected loss).
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