Soleil Securities Initiates WMS Industries (WMS) with a Buy
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Soleil Securities initiates WMS Industries (NYSE: WMS) with a Buy rating and a $34 price target.
The firm said, "Adhering to a cohesive strategy has resulted in strong growth in F08, despite a weak economy and depressed domestic demand. We expect WMS can continue to do well as it benefits from market share gains both domestically and internationally and continues to boost operating efficiencies. [WMS] should also be a major beneficiary of the next anticipated casino industry upgrade cycle to digital technology."
The firm's price target of $34 is 10.1X09 EV/EBITDA, which is below the high-end of the historical 9X-11X sector multiple range.
WMS Industries, Inc. engages in the design, manufacture, and distribution of gaming machines and video lottery terminals (VLTs) for customers in gaming jurisdictions worldwide.
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