Sterne Agee CRT Starts Scientific Games (SGMS) at Buy

Sterne Agee CRT initiates coverage on Scientific Games (NASDAQ: SGMS) with a Buy rating and a price target of $18.00.

Analyst David Bain commented, "Current ship share trends and cost synergy execution combine to generate our base-case $18 price target. However, we believe potential significant long-term ship share increases and the prospect for a small industry replacement improvement next year act as “free options” for share price growth above our base-case target. In addition, benign debt markets for a potential refinancing could add $40m+ in FCF next year, also augmenting valuation."

For an analyst ratings summary and ratings history on Scientific Games click here. For more ratings news on Scientific Games click here.

Shares of Scientific Games closed at $12.08 yesterday.

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