UPDATE: Goldman Sachs Lowers PT on WMS Industries from $20 to $14

Goldman Sachs reiterated a Sell rating on WMS Industries

and lowered its price target from $20 to $14. Goldman Sachs wrote, “We are lowering our WMS estimates after disappointing 4Q2012 results and an outlook for FY2013 which is of increased spending vs. our prior expectations. We have also lowered our assumptions for win per day given the competitive environment in participation right now. Our new FY2013/FY2014 estimates are $1.15 and $1.32, down from $1.50 and $1.68. We introduce our FY2015 EPS estimate of $1.46.” WMS Industries closed at $14.99 on Tuesday.