UPDATE: Deutsche Bank Reiterates Hold Rating, Raises PT on Bally Technologies

In a report published Friday, Deutsche Bank reiterated its Hold rating on Bally Technologies BYI, and slightly raised its price target from $49.00 to $50.00. Deutsche Bank noted, “Post Solid F1Q13 Results Tweaking Estimates and Raising PT. Following solid F1Q13 results, we are tweaking our F2013 and F2014 estimates and raising our price target to $50 from $49. Despite the strength in the quarter, we continue to believe the difficult operating environment, from which BYI has stayed largely isolated from given prudent management decisions and strong content during a challenging time for suppliers, namely difficult industry fundamentals and the current valuation premium, will eventually serve as headwinds. As such we believe the risk-reward is equally balanced at current levels and therefore remain at Hold.” Bally Technologies closed on Thursday at $47.23.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: Analyst ColorPrice TargetReiterationAnalyst RatingsDeutsche Bank
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!