Australia's Star Entertainment sinks on FY loss; Jefferies slashes PT
Updates with Jefferies note
** Shares of Star Entertainment SGR.AX fall as much as 54.4% to hit a record low of A$0.205
** On Thursday, casino operator reported annual statutory net loss after tax came of A$1.69 billion ($1.16 billion)
** Jefferies cuts price target to A$0.26/shr from A$0.43/shr, retains "underperform" rating
** Says "list of issues for SGR to navigate continues to grow, with a Bell Two response expected to be issued on Sept. 27"
** Jefferies of the view focus should be on ability to repay interest given a deteriorating earnings base that is under structural pressure on both revenue and costs
** Stock on track for its worst intraday percentage fall ever - if current trends hold
** Around 190 mlnshares change hands, 20.3x the30-day average volume of 9.3 mln
** Stock is down around 52% YTD as of 0249 GMT
($1 = 1.4526 Australian dollars)
Reporting by Rajasik Mukherjee and Shivangi Lahiri in Bengaluru
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