2205 GMT - Jefferies analysts tell clients in a research note that Aristocrat's focus on social casino games makes sense, pointing to fresh data for October that shows Aristocrat made gains in the sector for the first time in 2024--while other gaming categories remain in decline. The Australia-based gaming company earlier this year announced a strategic review for its casual and mid-core gaming assets, but signaled that its social casino offerings weren't part of the review. The Jefferies analysts say clarity on the strategic review would be positive for Aristocrat, noting that walking away from non-social casino games improves the company's FY 2026 Ebitda growth rate from 6.8% to 7.8%. The Jefferies analysts see Aristocrat shares rising to A$68, compared to yesterday's close of A$62.43. The company reports earnings next week. (mike.cherney@wsj.com; @Mike_Cherney)
(END) Dow Jones Newswires
November 05, 2024 17:05 ET (22:05 GMT)
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