Brean Murray Carret & Co. Upgrades Scientific Games (SGMS) to Buy; Solid Q1 and Outlook; Use Recent Pullback As Opportunity

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Brean Murray Carret & Co. upgraded Scientific Games (NASDAQ: SGMS) to Buy with a price target of $12.00.

Analyst, Ryan Worst, said, "SGMS reported a solid Q1, but more importantly, domestic sales trends remain robust driven by impressive result in Illinois. We believe the trends in Illinois could lead to significant incentive fees and earnings upside in the back half of 2012. Additionally, other states such as PA may consider outsourcing the management of lotteries to the benefit of Scientific Games." (FY12 EPS estimate lowered from $0.42 to $0.38)

For an analyst ratings summary and ratings history on Scientific Games click here. For more ratings news on Scientific Games click here.

Shares of Scientific Games closed at $9.10 yesterday, with a 52 week range of $6.50-$13.08.

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