The Aristocrat Leisure Limited (ASX: ALL) share price has managed to avoid the market selloff on Friday.
In afternoon trade, the gaming technology company's shares are up 0.5% to $34.39.
Why is the Aristocrat share price pushing higher?
Investors have been bidding the Aristocrat share price higher today after the company was the subject of a couple of bullish broker notes.
One of those notes came out of Morgan Stanley and saw its analysts put an overweight rating and $45.00 price target on the company's shares.
Based on the current Aristocrat share price, this implies potential upside of 31% for investors over the next 12 months.
The broker sees a big opportunity for the company in the i-gaming market and believes it has the balance sheet strength for major M&A or capital management activities.
Who else is bullish?
Another bullish broker note came out of Goldman Sachs this morning.
According to the note, the broker has retained its buy rating and $43.00 price target on Aristocrat's shares. This implies potential upside of 25% for investors.
Its analysts note that the company's digital business is outperforming the market despite recent weakness. This has led to the broker revising "group earnings by +2.3% and +0.4% in FY22/23e."
Outside this, Goldman continues to see plenty of value in the Aristocrat share price thanks to its very positive growth outlook. This is underpinned by its development pipeline, the recovery in land-based demand, and its strong balance sheet.
The broker commented:
We maintain our Buy rating on ALL based on the strong D&D commitment and pipeline support for future growth, well diversified digital business, leverage to the rapidly recovering land-based business as well as strength in their balance sheet.
