Citi analyst Sam Teeger starts Endeavour Group coverage with a Neutral rating and a $5.94 target price.
"While we acknowledge the company has a number of levers to drive earnings growth in its Hotels and Retail segments over the medium-term, we consider 17 times FY25 PE reasonably appropriate given the ongoing regulatory risk around the gaming business, which sits within the Hotels segment and we estimate it to contribute at least a fifth of group EBIT," Mr Teeger says.
Endeavour last at $5.37.