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Analysts adjust ratings

Monday, July 8, 2002 | 11:05 a.m.

Wells Fargo analyst David Barteld raised his rating on Boyd Gaming Corp. from "market perform" to "buy." His 12-month price target on the stock is $20 per share.

Separately, Prudential Securities gaming analyst William Lerner raised earnings estimates on two casino stocks. Earnings per share estimates on Harrah's Entertainment Inc. increased from $2.61 to $2.84 in 2002 and from $2.85 to $3.15 in 2003. Lerner raised his target price from $58 to $62 per share and maintains a "buy" rating on the stock.

Lerner revised earnings per share estimates on Mandalay Resort Group from $1.93 to $1.97 in 2003 and from $2.25 to $1.97 in 2004. He is maintaining a "hold" rating on the stock and a price target of $28.

He slashed earnings per share estimates on Chicago-based gaming equipment maker WMS Industries Inc. Estimates fell from 35 cents per share to 32 cents in 2002 and from $1.35 to 56 cents in 2003. He maintains a "buy" rating on the stock, but cut the company's target price from $22 to $18.

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