UPDATE: Stifel Initiates Coverage On Global Cash Access Holdings On Mixed Outlook

In a report published Tuesday, Stifel analyst Christopher Brendler initiated coverage on

with a Hold rating. In the report, Stifel noted, “Although GCA is the clear industry leader in cash access solutions for the gaming industry, we see a mixed outlook. On one hand, we believe the company's integrated products and innovative technology run circles around the competition and support its industry leading market share and premium pricing. However, price competition from outsourced solutions have led to tougher contract negotiations and stagnant domestic industry growth only serves to exacerbate the top line pressure. As such, we rate the shares Hold.” Global Cash Access closed on Monday at $8.03.