There could be significant value on offer with the Aristocrat Leisure Limited (ASX: ALL) share price at current levels.
Thatâs the view of analysts at Goldman Sachs, which have just reiterated their bullish view on the ASX 200 gaming technology share following its investor round table event.
What is Goldman saying about this ASX 200 share?
According to the note, the broker has retained its buy rating and $42.80 price target on the companyâs shares.
Based on where this ASX 200 share is currently trading, this implies potential upside of 18.5% for investors over the next 12 months.
And with Goldman expecting a 2.1% dividend yield from its shares, the total potential return stretches beyond 20%.
Aristocrat has a âsignificantly strongâ outlook
Goldman is bullish on this ASX 200 share due to its belief that it has a very positive outlook. This is for both Aristocrat’s core poker machine and digital businesses, as well as its fledging Anaxi (iGaming) business.
In response to the investor round table, the broker commented:
Overall, ALLâs progress remains on track with expectations with Australia gaming noted to be weak (GSe Australia Segment profit for 1H23e expected -28% vs. pcp). We view ALL as strategically the most diversified amongst our gaming coverage, holding a top 3 spot in slot machine sales in the US, having a strong digital gaming offering, and now the launch into the growing iGaming market. While short-term headwinds persist in the form of supply chain, spend for longer term growth etc., ALLâs outlook and iGaming opportunity remain significantly strong, in our view. We are Buy rated on ALL.
All in all, the broker believes this is a top growth share for investors to buy right now.
The post This ASX 200 growth share’s outlook is ‘significantly strong’: Goldman Sachs appeared first on The Motley Fool Australia.
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More reading
- Top brokers name 3 ASX shares to buy next week
- Buy these ASX growth shares now: analysts
- Buy and hold these ASX 200 shares: brokers
- 2 ASX growth shares to buy: Goldman Sachs
- How Iâd invest $20,000 in ASX 200 shares to aim for a million
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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