JP Morgan has an overweight recommendation on the company, and a target price of $4.95 per share. However, Goldman Sachs has a sell rating on the company.

“While the stock currently trades in line with defensive infrastructure names, we view volatility from jackpot games as being underappreciated and that markets are already pricing in significant growth, suggesting downside earnings risk,” Goldman analysts said.

Meanwhile, Jarden maintains a neutral earnings rating on The Lottery Corporation and has a 12-month target price of $4.01. “Among casino gambling, lottery and wagering, only lottery consumption appears to be recession proof based on empirical studies,” Jarden analyst Ben Brownette’s note from November 2 said.

Chairman Steven Gregg said the group expects to post an interim dividend in the first half of FY23 but also said there is still “substantial” work to do to completely separate vendors, systems and some functions from Tabcorp.

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