Citi, others positive on Aristocrat Leisure after HY results

** Analysts at Morningstar lift fair value estimate on mobile games developer Aristocrat Leisure ALL by 7% to A$48/shr

** Company is performing better than expected, says brokerage

** Morningstar lifts ALL's FY24 underlying net profit estimates by 13% to A$1.5 bln ($1 bln)

** "We lift our fair value estimate... due to the increase in near-term earnings, a larger installed base leading to higher longer-term earnings, and the time value of money" - Morningstar

** Analysts at Jefferies upgrade rating to "hold" from "underperform" and raise PT to A$41.15 from A$36.45

** Citi says co's reported HY EBITA (Earnings Before Interest, Tax, Ammortization) of A$1,027 mln is about 4% ahead of Citi's estimates

** Citi retains "buy" rating and hikes target price to A$53

** Jefferies upgrades FY24 segment EBITA by 4%

** The mobile games developer posted an about 17% rise in HY NPAT to A$723.3 mln, with operating revenue up 6.1% at A$3.27 bln

** Nine of 11 analysts rate stock "buy" or higher, two "hold"; their median PT is A$48.57 – LSEG

** ALL stock rises as much as 2.1%, hitting its highest level since March 14

** Stock up ~12% YTD, as of last close

($1 = 1.4979 Australian dollars)