Ardent Leisure : Citi rates AAD as Buy
09/01/2016 | 01:31am BST
Citi analysts have done various channel checks in the USA and their conclusion is that Main Event has likely commenced the new financial year on a softer note. No dramas are anticipated, and the appointment of a head of event sales should signal improvement ahead.
Citi analysts have sliced their forecasts. This reduces the price target by 3% to $3.05. Citi analysts remain sceptical about Ardent Leisure's plan to operate up to 200 Main Event centres. Let's concentrate on 101 first, seems to be the mantra, and see how that goes. Buy rating retained.
In addition, the analysts highlight Ardent Leisure offers exposure to a growing USD earnings stream as well as the Gold Coast tourism resurgence theme.
Sector: Consumer Services.
Target price is $3.05.Current Price is $2.53. Difference: $0.52 - (brackets indicate current price is over target). If AAD meets the Citi target it will return approximately 17% (excluding dividends, fees and charges - negative figures indicate an expected loss).
© 2016 Acquisdata Pty Ltd., source FN Arena
http://www.4-traders.com/ARDENT-LEI...rdent-Leisure-Citi-rates-AAD-as-Buy-22985531/
