It doesn’t happen all that often, but this week the ASX and the S&P/ASX 200 Index (ASX: XJO) welcomed a new company to their ranks.

On Tuesday, The Lottery Corporation (ASX: TLC) was listed on the Australian share market. Lottery Corp used to be part of the gaming giant Tabcorp Holdings Ltd (ASX: TAH). But on Tuesday, all Tabcorp shareholders received one Lottery Corp share for every Tabcorp share owned.

This resulted in a huge drop in value for Tabcorp shares. The Tabcorp share price is currently 82% down since the announcement of the demerger. But there is a bevy of Lottery Corp shares to make up for it.

It’s been a bumpy ride for Lottery Corp shares in their first few days of ASX trading. The company reached a high of $4.78 during yesterday’s session. But the shares have tanked 1.8% so far today and are now priced at $4.57 each.

So now that this rather dramatic demerger has been completed, are Lottery Corp shares a buy today?

Are Lottery Corp shares worth buying?

Well, Lottery Corp has only been on the ASX for a few days. But even so, experts and brokers are starting to weigh in.

My Fool colleague James covered how analysts at Macquarie feel about the demerger earlier this week.

Macquarie reckons the best parts of Tabcorp have now left the business. It rates Tabcorp neutral with a share price target of $1 a share. That’s where Tabcorp shares are trading today. After a 2.94% slump since the opening bell, the Tabcorp share price is now 99 cents.

But Macquarie is more optimistic about the new Lottery Corp. The broker rates Lottery Corp outperform, and gives the new company a 12-month share price target of $5. If that came to pass, it would mean an upside of about 9% for investors.

Fellow broker Morgan Stanley is also bullish on Lottery Corp. As we covered just yesterday, Morgan Stanley has rated Lottery Corp shares overweight, citing its “monopoly positioning” across its markets.

This broker reckons the company could be worth $5.15 a share in a year’s time. It says Lottery Corp “provides a rare mix of defensiveness, growth, and yield”.

So that’s how two prominent ASX brokers are rating the new Lottery Corp share price. It will be interesting to see what course this new ASX 200 share charts over the next year.