June lottery jackpot data shows Tabcorp Holdings' small draws ($3m and $8m) outperformed historical averages, reports Ord Minnett.
The broker saw a jump in jackpot size with an increase seen in four Powerball jackpots in June and early July, showing strong sales.
Digital traffic was considerably higher on android as compared to last year and sales remain resilient due to the migration to digital from retail. The broker forecasts FY20 lotteries revenue of $2.63bn, down -0.5% from FY19 levels.
Ord Minnett retains its Lighten recommendation with a target price of $2.10.
Sector: Consumer Services.
Target price is $2.10.Current Price is $3.27. Difference: ($1.17) - (brackets indicate current price is over target). If TAH meets the Ord Minnett target it will return approximately -56% (excluding dividends, fees and charges - negative figures indicate an expected loss).
© 2020 Acquisdata Pty Ltd., source FN Arena