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twitterCircus stock jumps on analyst upgrade
Wednesday, April 14, 1999 | 10:29 a.m.
Circus Circus Enterprises Inc. stock broke through the $20-a-share barrier today after analyst Harry Curtis of BancBoston Robertson Stephens boosted his rating on the Las Vegas-based casino company to "buy" from "market perform."
Today's action marks the sixth upgrade for Circus shares since Feb. 19 by Wall Street gaming analysts. Two of the upgrades were by Merrill Lynch.
Circus, with more than 17,000 rooms along the Las Vegas Strip, is benefiting from the boom in visitor volume sparked by the opening of Bellagio last October and its own Mandalay Bay resort last month.
Analysts have become more bullish on Circus as the prolonged slump for casino stocks appears to be at an end. Circus has climbed from about $8 a share a few months ago to today's midday price of $20.125, up $1.4375 from Tuesday's close.
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