Financial services firm Morningstar forecasts gambling machine manufacturer Aristocrat Leisure to acquire a larger market share in both outright sales and leased machines in the North American market.

The firm views Aristocrat Leisure as one of three major entities dominating a significant portion of North American outright sales and a similar proportion of leased machines.

The company’s fair value estimate for Aristocrat Leisure’s shares remains unchanged at A$43.

Morningstar points out the company’s main competitors, Light&Wonder and International Game Technology, but does not anticipate the competitive climate to soften.

According to them, it may prove challenging for these competitors to secure a substantial and sustainable share against the dominance of Aristocrat Leisure.

LSEG data shows that out of 11 analysts, 10 recommend a ‘buy’ or higher rating for the stock, while one suggests a ‘hold’, with a median target price of A$44.75.

As of the latest closing, Aristocrat Leisure’s shares have risen 35.4% year-to-date.

Aristocrat Leisure is a premier gaming machine manufacturer.