Bally (BYI) Saskatchewan Win Brings It Closer to Reaching Lofty Goals

December 19, 2012 11:36 AM EST
Get Alerts BYI Hot Sheet
Price: $83.27 --0%

Rating Summary:
    5 Buy, 11 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 19 | Down: 13 | New: 9
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This morning Bally Technologies, Inc. (NYSE: BYI) announced an agreement to provide 650 video-lottery terminals in Saskatchewan. Commenting on developments, analysts at Sterne Agee said the deal helps substantiate BYI's FY13 EPS guidance of $3.05 to $3.35.

In an October note, analyst David Bain made the following comments on Bally:

"Content ‘hot’ streaks can often wane quickly for suppliers; we believe BYI's growth is more diversified and core-technologically driven than a hot 'skin' or game title. Growth is being fueled by Company specific multi-year contracts/installation opportunities stemming from unique systems products (iView DM and a growing bonusing suite) and game technology, not just titles (iDeck, Pro Curve), in our view. When combined with a slowly improving industry slot replacement cycle and a solid new casino and expansion schedule, we believe there is strong visibility for BYI in both FY13 and FY14."

Sterne Agee has a Buy rating on Bally Technologies (NYSE: BYI) with a price target of $60.00.

For an analyst ratings summary and ratings history on Bally Technologies click here. For more ratings news on Bally Technologies click here.

Shares of Bally Technologies closed at $45.90 yesterday.

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