Macquarie Equities Research have upgraded Tatts Group to an outperform rating following proposed changes to wagering frameworks in QLD
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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.
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The Livewire Equities feed brings you a range of insights that relate to Australian equities
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Livewire Equities
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The Livewire Equities feed brings you a range of insights that relate to Australian equities
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