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UPDATE: Bank of America Downgrades WMS Industries to Underperform on Expense Outlook

Related WMS
Top 4 Small-Cap Stocks In The Recreational Goods, Other Industry With The Highest EPS Estimates
Earnings Scheduled For August 27, 2013

Bank of America lowered its rating on WMS Industries (NYSE: WMS) from Neutral to Underperform with a reduced price objective of $14.

Bank of America said, "WMS reported its FQ4 earnings and now plans on making material investments in F13 for its interactive business. We have been cautious on R&D spend in Gaming Tech, as returns are challenged by fierce competition. Ramping expenses raises risk of material shortfalls in F13 EPS and we think the turnaround faces additional risks until at least 2H F13 and lower our rating to U/P."

WMS Industries closed at $18.26 on Monday.

Posted-In: Bank of AmericaAnalyst Color Downgrades Intraday Update Analyst Ratings


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