MGAM To Meet FQ1 Expectations
Analyst Todd Eilers of Roth Capital maintains his "buy" rating on MultiMedia Games Inc (NASDAQ: MGAM). The target price for MGAM is set to $7.50.
According to Roth Capital, MultiMedia Games is scheduled to report its FQ1 results tomorrow. The analyst expects MGAM’s results to be inline with the estimates and marginally ahead of the consensus.
“We anticipate seq improvement in OK recurring revenue w/ Phase I & II of the Winstar renovation completed and previously removed games added back to the install base,” the analyst mentions. “We believe the pull back in shares due to short term Alabama issues has created an attractive entry point for investors. Our recent slot director checks indicate a positive response to the company's Class III games and we look for Class III expansion and the NY lottery contract with Aqueduct to drive growth in FY10 and FY11,” the analyst adds.
