Jumbo hits record high on MS rating
Jumbo Interactive has jumped 11pc to a record hgh of $14.96 after Morgan Stanley slapped an “high conviction” Overweight rating and $20 target price target on the e-commerce and online retailing technology company.
Morgan Stanley analyst James Bales sees leverage to rising online lotteries penetration, product and geographic expansion, more jackpots, and a large software opportunity.
“Improving unit economics imply scalability, driving operating leverage that is undervalued by the market,” he says.
Jumbo is an online officially sanctioned lottery reseller in all Australian states other than Queensland.
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$13.10 |
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Mkt cap ! $819.5M | |||
| Open | High | Low | Value | Volume |
| $13.15 | $13.16 | $13.02 | $692.9K | 52.96K |
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| No. | Vol. | Price($) |
|---|---|---|
| 3 | 186 | $13.10 |
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| Price($) | Vol. | No. |
|---|---|---|
| $13.12 | 210 | 5 |
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