0259 GMT - Lottery Corp.'s 1H lottery revenue is on track to come in below expectations for its bull at Citi. The 3% on-year rise in the period so far is in line with the average analyst forecast, Adrian Lemme tells clients in a note, adding that it lags the 9% he had anticipated. He will be closely monitoring how things develop in December before making any changes to his forecasts, he notes. There are signs of either consumer fatigue or cost-of-living pressures, he adds, and wonders if higher jackpots are needed to keep punters interested. More positively, he points out that last week's A$100 million jackpot has lifted some risks for the remainder of the half. Citi maintains a buy rating and a target price of A$5.60 for the stock, which is down 0.8% at A$5.16. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
December 05, 2024 21:59 ET (02:59 GMT)
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