Soleil Securities Initiates Bally Technologies (BYI) with a Buy
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Soleil Securities initiates coverage on Bally Technologies (NYSE: BYI) with a Buy rating and a $36 price target.
Soleil believes a new software platform, increased R&D, and a new product portfolio has led to growing market share, rising revenue and improving margins. The firm expects continuing market share gains from a relatively low base. The firm's price target is 9.3X09 EV/EBITDA, which is the low-end of the historical 9X-11X sector multiple range.
Bally Technologies, Inc. engages in the design, manufacture, distribution, and operation of gaming machines and computerized monitoring systems for gaming industry worldwide.
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