this is part two of the morgan stanley city report of today,...

this is part two of the morgan stanley city report of today, again, pls, DYOR...this post is NOT meant to be ramping TTS.
btw: Stoxline have a forecast tgt of $3.40.-,

Rating Buy, Medium Risk (1M)
Price $2.40
Target Price $2.80
Expected Total Return (%) 25.0
Market Capitalisation ($Abn) 3.1
TTS.AX (Y/E Jun) 2009A 2010E 2011E 2012E
Rpt NPAT ($Am) 279 273 297 328
Core EPS (A) 22.0 21.4 23.4 25.8
EPS Growth (%) 8.3 (2.6) 9.3 10.3
P/E (x) 10.9 11.2 10.2 9.3
DPS (A) 21.0 20.0 20.0 20.0
Yield (%) 8.8 8.3 8.3 8.3
Franking (%) 100 100 100 100
Source: company reports, CIRA estimates.

Research Publication Date: TTS.AX Declared the Winner on
Lotteries, 2 March, 2010