Aristocrat Could Gain Share After Dragon Train Injunction -- Market Talk

Dow Jones
2024-09-26

0149 GMT - Australia poker-machine developer Aristocrat Leisure could get some market-share benefits from the disrupted rollout of rival Light & Wonder's Dragon Train series, UBS analysts say. Even without Aristocrat's IP-driven preliminary injunction against Light & Wonder, the UBS analysts are growing more confident about Aristocrat's gaming operations outlook and its fiscal 2025 guidance. They tell clients in a note that meetings with industry stakeholders have bolstered their confidence in U.S. demand, with support coming from resilient consumers. UBS raises its target price 13% to A$63.50 and keeps a buy rating on the stock, which is up 13% at A$57.23. (stuart.condie@wsj.com)

 

(END) Dow Jones Newswires

September 25, 2024 21:49 ET (01:49 GMT)

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