Crown Update

We continue to hold CWN.ASX with a view the stock can trade up to our $14 target in the coming months.

FY17 revenue of $3.8b, EBIT forecast of $700m, ESP of $0.67 paying out around $0.55 in dividends, places the stock on a 4.4% forward yield.

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Continue to hold.

Author: Leon Hinde

Leon has been working in the financial services industry for 18 years in management and advisory roles. Leon has extensive experience in general advice and dealings involving securities and derivative financial products.

PS 146 Securities & Derivatives, ADA 1 & 2 accreditation, Responsible Manager Certificate. Leon is authorised to provide financial product advice and deal with respect to the following financial products:

· Deposit Products
· Securities
· Derivatives
· Interest in managed investment schemes; and
· Government debentures, bonds and stocks