Do you know why Tabcorp is doing so badly at the moment besides the carnage last week. All FN Arena analyst are reasonable positive. Just after your thoughts please.
A: I think the market has come to realise that Tabcorp is an incredibly poorly managed company, as demonstrated by the mess it has made of the Tatts acquisition and integration. There need to be wholesale changes to the Board and Management.
The analysts see value with a target price of $4.61, 24% higher than last night’s close of $3.71. But like the market, they have been horribly wrong to date.
Attractive as a yield stock, but not much else. I don’t think this stock is going to be re-rated quickly. In the absence of major changes, avoid.
