Morgan Joseph Upgrades Ameristar Casinos (ASCA) to Hold
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Morgan Joseph upgrades Ameristar Casinos Inc. (Nasdaq: ASCA) from Sell to Hold, saying the stock is now fairly valued.
The firm said, "We believe the current price accurately reflects the competitive pressure and overall weak economy that Ameristar currently finds itself facing." They also said they no longer believe there is a takeover premium in the stock, which they said was unwarranted.
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