Deutsche Bank Upgrades Bally Technologies (BYI) to Buy; 4Q Share Strength Just the Beginning

Deutsche Bank upgraded Bally Technologies (NYSE: BYI) to Buy, price target raised from $36 to $45.

Deutsche analyst says, "Over the next several quarters, we expect BYI and BYI shares to benefit from: 1) improved WAP content additions to a limited WAP footprint at present, 2) improving mix driven, environment agnostic, gaming ops yields, 3) improving replacement demand, 4) reasonable systems expectations and easy comparisons, 5) an expansion pipeline which should add ~$0.14 in incremental EPS in F2012 and option value stemming from yet to be legalized gaming jurisdictions (MA and OH VLT’s), and 6) the largely forgotten eventual placements of units in Italy."

"Our new F2012 and F2013 EPS estimates go to $2.40 and $3.08 from $2.30 and $2.78, respectively."

For an analyst ratings summary and ratings history on Bally Technologies click here. For more ratings news on Bally Technologies click here.

Shares of Bally Technologies closed at $36.18 yesterday.

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