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mce-anchorALL ARISTOCRAT LEISURE LIMITED

Gaming
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Overnight Price: $25.59

Deutsche Bank rates ALL as Buy (1) -
The trading update at the AGM was well received, Deutsche Bank observes, and results for the year to date are tracking in line with the company's expectations. Earnings will be skewed to the second half because of the digital game releases.

The broker notes land-based gaming had a stronger start to the year while digital is in line with expectations. Buy rating and $39.75 target maintained.

Target price is $39.75 Current Price is $25.59 Difference: $14.16
If ALL meets the Deutsche Bank target it will return approximately 55% (excluding dividends, fees and charges).
Current consensus price target is $31.85, suggesting upside of 24.5% (ex-dividends)
The company's fiscal year ends in September.

Forecast for FY19:

	Column 1
0	Current consensus EPS estimate is 132.4, implying annual growth of 16.0%. Current consensus DPS estimate is 55.0, implying a prospective dividend yield of 2.1%. Current consensus EPS estimate suggests the PER is 19.3.

Forecast for FY20:

	Column 1
0	Current consensus EPS estimate is 150.1, implying annual growth of 13.4%. Current consensus DPS estimate is 62.9, implying a prospective dividend yield of 2.5%. Current consensus EPS estimate suggests the PER is 17.0.

Market Sentiment: 0.9
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources