UPDATE: Sterne Agee Raises Ameristar Casinos' PT

According to a research report published this morning, Sterne Agee has increased Ameristar Casinos'

PT from $21 to $23.50. In the report, Sterne Agee commented, "ASCA continues to deliver impressive flow-through on small revenue increases. While its portfolio is comprised of industry leading quality regional casino assets directed by top-level property management, shares may be range-bound until there is more visibility of potential cannibalization impacts from competitors, infrastructure disruptions and growth catalysts become more tangible, in our view." Sterne Agee maintains its Neutral rating on Ameristar Casinos, which closed yesterday at $19.76.