Brean Murray Maintains a 'Buy' on Shuffle Master (SHFL); Raises Price Target
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Brean Murray maintains a 'Buy' on Shuffle Master (Nasdaq: SHFL), raises price target from $5 to $7.
Brean analyst says, "Shuffle Master reported another solid quarter, with greater-than-expected placements in three of four of its product lines and FCF of about $9 million in 2QFY09 and $16 million YTD. With an increasing lease base and reduced cost structure we are introducing our FY10 EPS estimate which is 26% higher than our increased FY09 estimates. Shuffle Master currently has a FY09E FCF yield of 13% (and debt leverage of 2.2x) which, in our view, is very compelling considering its increasing presence on gaming floors and growth potential."
To see more analyst ratings on SHFL Click Here.
Shuffle Master, Inc. is engaged in developing, manufacturing and marketing technology and entertainment-based products for the gaming industry for placement on the casino floor.
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