0026 GMT - Macquarie reckons the market may be a little too bullish on Jumbo Interactive's first-half profit. The bank's analysts expect the lotteries company will next month report a 1H profit of around A$18 million, 11% below Visible Alpha consensus and also 11% lower on year. Macquarie's analysts predict lotteries volumes will fall by 7% in FY25, which "has become a more challenging year than expected." The company's strategy to diversify into managed services via M&A also comes with a risk, with recent acquisitions underperforming, they say. Macquarie's target on the stock is trimmed to A$14.40 from A$14.75. A neutral recommendation is retained. Jumbo Interactive is down 1.4% at A$13.93. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
(END) Dow Jones Newswires
January 07, 2025 19:26 ET (00:26 GMT)
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