Our ALGO engine reflected a buy signal for ALL on September 14th at $28.90.
The share price is near the same level in early trade today.
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However, with the recent acquisitions of Big Fish Games and Plarium, we expect to see an increase in the company’s USD-based earnings as it grows its position within the online gaming sector.
Almost 60% of ALL’s earnings are generated in the USA and the company is projected to grow earnings by 19% to $1.40 per share during 2019.
ALL is one of several ASX listed companies that will benefit from a progressively lower Aussie Dollar.
Technically, we see solid support in the $27.90 area and an initial upside target of $31.25.
Aristocrat Leisure
