ALL - SB Citigroup rates the stock as Upgrade to Buy from Hold,...

ALL - SB Citigroup rates the stock as Upgrade to Buy from Hold, Medium Risk
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While cutting its numbers for Japan as it takes a more conservative position with regards machines sales in that market the broker has upgraded its rating on the stock as it continues to like the outlook for its US operations given new markets are being created and it is growing its position in existing markets.
Reflecting its more conservative view on Japan the broker has cut its FY06 EPS forecast by 7.1% to 52.7c, but forecasts for FY07 and FY08 are virtually unchanged.

Valuation is $13.93.

Target price is $13.80. Current Price is $11.81. Difference: $1.99 - (brackets indicate current price is over target). If ALL meets the SB Citigroup target it will return approximately 14% (excluding dividends, fees and charges - negative figures indicate an expected loss).

Courtesy of SC