My takeaway from the recent posts above is a general frustration with the current suppressed SP. As some have indicated, the recent pullback has been an opportunity to add to positions. Politics aside, ALL is a global market leader in the rapidly-growing land-based gaming and mobile gaming industries. It has delivered revenue growth of 17% pa over the past 5-years and 80% of revenue in FY21 was recurring. Demand for its gaming machines and digital games is resilient to economic cycles, though has slowed in recent months, leading the SP retracement. ALL’s 1-year forward P/E has derated significantly from a high of 30x last September. Inflation data is acting as a current tail wind although not out of the woods yet (still running at 6% when target is 2-3%). Morgans have a $43 TP, Citi $41.20, OM $40.50, UBS $41.60. I think now would be precisely the wrong time to sell for what its worth. In fact, I'm a net buyer. GLTAH!
ALL Price at posting:
$33.28 Sentiment: Buy Disclosure: Held
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