Financial services corporation Citi has amplified its price target on Australia’s Aristocrat Leisure (ASX:ALL) reaching A$52.70 per share, symbolizing increased confidence in the gaming machine developer.

Citi supports a ‘buy’ rating for the stock, while suggesting rosy business conditions in the American market for the renowned Australian company.

The firm anticipates a bump in Aristocrat’s Americas EBIT margin in the latter half of 2024, while predicting a decline of ~50 bps in the first half of 2024, based on margin extrapolations from industry peers.

The new NFL-themed slot game from Aristocrat is expected to be backed by casinos, considering its potential to attract a younger cluster of customers, according to the financial giant.

The upgraded price target from Citi, compared to the LSEG median PT of A$46.84, displays positivity among 10 of 11 analysts rating the stock ‘buy’ or higher, and one as ‘sell’ or lower.

The developer’s shares have appreciated by 12.5% YTD.

Aristocrat Leisure (ASX:ALL) is an Australian gaming machine developer.