Can Last Jedi Awaken the Force in Event Hospitality?
Shares in no moat-rated Event Hospitality and Entertainment remain at a 9% premium to our AUD 12.00 fair value estimate. One possible reason could be due to anticipation of Star Wars: Last Jedi's premiere on Dec. 14. It is an event capable of resurrecting the fortunes of the domestic movie industry whose December-half to-date box office takings are down 15% from a year ago.We believe this recovery is reflected in our 8% EBIT growth forecast for Event's Australian cinema division to AUD 85 mill...
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