UPDATE: Jefferies Lowers PT to $5 on Isle of Capri Casinos
A report from Jefferies reiterates its Hold rating and lowers its price target from $6 to $5 on Isle of Capri Casinos (NASDAQ: ISLE).
The report states, “ISLE's 2QFY12 performance reflected the confluence of challenging consumer economic conditions, heightened competition and the after-effects of regional flooding. While we believe ISLE's re-focused capital expenditure and marketing strategies should benefit the story in the long-term, we expect progress to materialize comparatively slowly given the company's regional exposure.”
ISLE closed yesterday at $4.49.
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