Compass Point Reiterated a Buy Rating on Global Cash Access (GCA), Cuts PT
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Price: $4.86 --0%
Rating Summary:
3 Buy, 1 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
3 Buy, 1 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Today Compass Point reiterated a Buy rating on Global Cash Access (NYSE: GCA) but cut the price target to $10.00 (from $12.00). Their revised EPS estimates are $0.78 this year (unchanged) and $0.80 for next year ($0.84 previously).
"Underlining the updated outlook is decelerating revenue growth as well as incremental expenses related to developing the iGaming product suite and corporate relocation," said analyst Douglas Greiner.
"Given the company's dominant casino cash access market share of approximately 75% and an annual $52 million tax shield through 2019 we continue to see value in the shares at current levels," added Greiner.
For an analyst ratings summary and ratings history on Global Cash Access click here. For more ratings news on Global Cash Access click here.
Shares of Global Cash Access closed at $6.57 yesterday.
"Underlining the updated outlook is decelerating revenue growth as well as incremental expenses related to developing the iGaming product suite and corporate relocation," said analyst Douglas Greiner.
"Given the company's dominant casino cash access market share of approximately 75% and an annual $52 million tax shield through 2019 we continue to see value in the shares at current levels," added Greiner.
For an analyst ratings summary and ratings history on Global Cash Access click here. For more ratings news on Global Cash Access click here.
Shares of Global Cash Access closed at $6.57 yesterday.
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