Brean Murray Reiterates a 'Buy' on Ameristar Casinos (ASCA), Raises Price Target to $15
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Brean Murray reiterates a 'Buy' on Ameristar Casinos (Nasdaq: ASCA). Price target raised to $15.
Brean analyst says, "ASCA’s results further confirm out thesis that (1) regional game operators are weathering the economic storm better than most expected and (2) stock price performance for regional operators are an overreaction and should only be reflective of the current financing environment as operating fundamentals are solid. We believe several of the regional operators such as Ameristar, Penn National (Nasdaq: PENN) and Pinnacle Entertainment (NYSE: PNK) should continue to rebound strongly as investors realize the stability of the business and should receive a further boost if the financing environment improves."
Ameristar Casinos, Inc. (ACI) is a developer, owner and operator of casino entertainment facilities in local and regional markets.
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