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Deutsche Bank Wouldn't Be Shocked by Competing Bids for Ameristar

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Deutsche Bank analyst Carlo Santarelli Friday morning issued a research note following the deal between Pinnacle Entertainment (NYSE: PNK) and Ameristar Casinos (NASDAQ: ASCA). The analyst said increased or competing offers for Ameristar "wouldn't be shocking."

Santarelli believes the deal makes “plenty of sense” for Pinancle, which will more than double in size after the deal. The analyst wondered how ASCA shareholders will accept this “modest” offer given recent M&A activity in the gaming industry.

Deutsche Bank maintained a Hold rating on and $22 price target on Ameristar Casino shares.

Both Ameristar and Pinnacle shares are up more than 20 percent at last check.

Latest Ratings for PNK

DateFirmActionFromTo
Jul 2014Credit SuisseMaintainsUnderperform
Jul 2014Deutsche BankMaintainsHold
Jul 2014JP MorganMaintainsOverweight

View More Analyst Ratings for PNK
View the Latest Analyst Ratings

Posted-In: Analyst Color Analyst Ratings

 

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