0108 GMT - Aristocrat Leisure's sale of its Palarium Global division removes Citi analysts' key bear point on the stock. The analysts welcome the sale, telling clients in a note that their FY 2025 forecasts for Aristocrat's digital gaming had been well below those of most analysts. A sale price of up to A$1.25 billion is well below even the bottom end of the range the Citi analysts had previously estimated, but they say they had always anticipated downside risk here as bookings data weakened. Citi has a last-published buy rating and A$74.00 target price on the stock, which is down 0.9% at A$64.99. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
November 11, 2024 20:08 ET (01:08 GMT)
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