Brean Murray Carret & Co. Reiterates a 'Buy' on Ameristar Casinos (ASCA); Story Changes, But Upside Is There

Brean Murray Carret & Co. reiterates a 'Buy' on Ameristar Casinos (NASDAQ: ASCA) price target lowered $1 to $31.

Analyst, Ryan Worst, said, "ASCA announced an agreement to acquire Creative Casinos; a developer in Lake Charles. The $500MM project is expected to open in mid-2014 and significantly changes the ASCA story from FCF-deleveraging to growth. We believe the project should generate a solid 15% ROI, diversify ASCA's earnings, and provide ASCA with a solid growth story in addition to the possibility of winning a casino license in western Massachusetts..."

For an analyst ratings summary and ratings history on Ameristar Casinos click here. For more ratings news on Ameristar Casinos click here.

Shares of Ameristar Casinos closed at $20.93 yesterday.

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