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Analysts raise, cut ratings

Wednesday, July 10, 2002 | 11:10 a.m.

Gaming analyst Brian Egger of Credit Suisse First Boston raised his rating on Las Vegas Strip casino operator Mandalay Resort Group from "hold" to "buy" and is maintaining a 12-month price target of $37 per share on the stock.

Separately, analyst Daniel Davila of Hibernia Southcoast Capital downgraded casino software supplier Acres Gaming Inc. from short-term "strong buy" to short-term "buy" and has cut the company's 12-month target price from $8 to $5 per share.

Davila also cut his target price on equipment maker Mikohn Gaming Corp. from $10 to $7 per share. He is maintaining a short-term "strong buy" rating on the stock.

Also, analyst Jake Fuller of Thomas Weisel Partners initiated coverage of major gaming empires Harrah's Entertainment Inc., MGM MIRAGE, Mandalay Resort Group and Park Place Entertainment Corp.

MGM MIRAGE and Mandalay carry "attractive" and "buy" ratings, respectively. Harrah's and Park Place both have "market perform" ratings.

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