Citi’s analysts are projecting a 3% increase in earnings before interest and taxes (EBIT) for Australia’s Lottery Corp (ASX:TLC) in FY23.

The potential earnings growth is envisaged to total A$623 million.

The firm’s estimation for the FY24 EBIT remains significantly higher than most, standing 9% above consensus.

Citi maintains its optimistic outlook due to the increased revenue from alterations to the Oz Lotto platform and higher prices for Powerball tickets.

The brokerage maintains a ‘buy’ rating for the stock and expects a per share price target of A$5.70.

Of 15 analysts who rated the stock, seven recommended to ‘buy’ or rate higher, seven suggested to ‘hold’, and one regards it as a ‘strong-sell’, with a median price target of A$5.55.

Additionally, Lottery Corp’s stock has appreciated 18.3% this year up to the recent market close.

Lottery Corp is an Australian-based company specializing in various lottery and gambling services.