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UPDATE: Sterne Agee Lowers PT on Asia Entertainment & Resources Ltd. Following Rights Offering Completion

Related AERL
Earnings Scheduled For August 22, 2013
Asia Entertainment & Resources Ltd. Announces Rolling Chip Turnover of US$1.50 Billion for July 2013, +15% YoY

In a report published Friday, Sterne Agee analyst David Bain reiterated a Buy rating on Asia Entertainment & Resources Ltd. (NASDAQ: AERL), but lowered the price target from $16.00 to $9.50.

In the report, Sterne Agee noted, “We maintain our Buy rating and adjust estimates following the completion of AERL's rights offering, which transforms a ~$60m shareholder loan into permanent capital. Shareholder loans are not allowed under the Listing Rules of the Stock Exchange of Hong Kong (‘SEHK'), and AERL's upcoming HK listing should unlock equity value for investors.”

Asia Entertainment & Resources Ltd. closed on Thursday at $3.92.

Latest Ratings for AERL

DateFirmActionFromTo
Aug 2013Sterne AgeeMaintainsBuy
Nov 2012Stifel NicolausMaintainsBuy
Aug 2012ArgusDowngradesBuyHold

View More Analyst Ratings for AERL
View the Latest Analyst Ratings

Posted-In: David Bain Sterne AgeeAnalyst Color Price Target Analyst Ratings

 

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