Goldman Sachs Raises Estimates and Price Target on Bally Technologies (BYI) to $50

Goldman Sachs raised its price target on Bally Technologies (NYSE: BYI) from $46 to $50 and reiterated its Buy rating following solid Q4 results after the close.

The firm said the upside was driven mostly by systems but also gaming equipment.

Goldman said they expect momentum in the company's systems segment as well as some product momentum in gaming equipment and gaming operations.

The firm raised FY2013 and FY2014 estimate to $3.06 and $3.38 from $3.01 and $3.24 due to higher gaming operations revenue stemming from higher placements of new titles including Greece and Michael Jackson as well as lower R&D and interest expense.

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 $43.26 yesterday, with a 52 week range of $24.74-$43.57.

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