Macquarie Equities Research have upgraded Tatts Group to an outperform rating following proposed changes to wagering frameworks in QLD
Livewire Equities
Livewire
Macquarie Equities Research have upgraded Tatts Group to an outperform rating following proposed changes to wagering frameworks in QLD. TTS has reached in-principle agreement with the QLD Government and Racing QLD to establish a new framework for the conduct of race and sports wagering. We anticipated a -$12.6m EBITDA impact from the new deal, instead the decision lifted earnings $12.3m, implying a $24.9m uplift to our forecast. Macquarie upgrades Tatts to Outperform with a price target increased to $3.50/sh due to favourable tax movements improving earnings.
Never miss an update
Enjoy this wire? Hit the ‘like’ button to let us know.
Stay up to date with my current content by
following me below and you’ll be notified every time I post a wire
Welcome to Livewire, Australia’s most trusted source of investment insights and analysis.
To continue reading this wire and get unlimited access to Livewire, join for free now and become a more informed and confident investor.
Already have an account? Sign in here
The Livewire Equities feed brings you a range of insights that relate to Australian equities
Never miss an update
Get the latest insights from me in your inbox when they’re published.
Please sign in to comment on this wire.