Revenue and earnings (EBITDA) in the 1H for Tabcorp Holdings were in line with consensus forecasts.

As part of new targets for FY25, management is targeting a doubling of return on invested capital (ROIC) and a 30% digital revenue market share, up from the current 25.1%.

The broker raise its earnings forecasts by around 7.5% across FY23-25 and the target climbs to $1.08 from $1.00. Equal-weight. Industry view is In-Line.

Sector: Consumer Services.

Target price is $1.08.Current Price is $1.00. Difference: $0.08 - (brackets indicate current price is over target). If TAH meets the Morgan Stanley target it will return approximately 7% (excluding dividends, fees and charges - negative figures indicate an expected loss).

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