Morgan Joseph Starts Shuffle Master (SHFL) at Buy, Sets $12 Price Target

Morgan Joseph initiates coverage of Shuffle Master (Nasdaq: SHFL) with a 'Buy' rating and $12 price target.

The firm mentions Shuffle Master's "growth opportunities including the ACE shuffler replacement cycle, add-on bonus products, and new/expanded gaming markets. In addition, we believe there are still potential savings in the cost structure, mostly on the manufacturing side of the business, as well as lower interest expense due to further debt reduction."

To see all the upgrades/downgrades on shares of SHFL, visit our Analyst Ratings page.

Shuffle Master, Inc. engages in the development, manufacture, and marketing of technology and entertainment-based products for the gaming industry worldwide.

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