Bally Technologies Expected To See Weighted Back End To 2011

Jefferies & Co. has issued a research report on Bally Technologies BYI as Jefferies believes the company has greater exposure in the technology and gaming operations businesses and thus has an advantage in the marketplace. In the report, Jefferies writes "We reflect a more gradual ramp in the improvement of business trends over the next several quarters. Our discussions with management as well as our channel checks suggest that a greater percentage of the year's earnings should occur in 2HFY11 than our prior estimates reflected. As a result of the shift in our product sales expectations and systems margins, our EPS estimates change as follows. For 1QFY11, FY11 and FY12, our estimates are $0.50, $2.38 and $2.92, respectively, versus $0.53, $2.37 and $2.91." Jefferies maintains its Buy rating and $45 price target. Bally Technologies closed yesterday at $34.81.