Jefferies Sees EPS Increase for Bally Technologies (BYI)

Jefferies is out with an update on Bally Technologies

after BYI secured a contract at the Oneida Nation's Turning Stone Resort. In a note to clients, Jefferies writes, "Under normal circumstances, our estimates suggest the deal should be worth $0.07-0.09 per share, although the presence of an existing proprietary system implies it could be less. However, the recently announced wins and expectations for further announcements support our expectation that the momentum continues to build for BYI in this segment with little pressure from competitors. The announcement that BYI will replace another supplier with its system at Turning Stone supports our bullish stance on BYI and its leadership position in the technology segment of the business. While this announcement is not specifically included in our forecast, it is consistent with the growth outlook we contemplate." Jefferies has a Buy rating on BYI. BYI is trading at $42.65, down 0.40% from yesterday's close.