Stock advances on upgrade

Tuesday, Sept. 24, 2002 | 11:13 a.m.

A Wall Street gaming analyst has upgraded the stock of Station Casinos Inc. from "hold" to "buy" following positive news about a casino near Sacramento that the Las Vegas company will manage for an Indian tribe.

UBS Warburg analyst Robin Farley said the casino, expected to open in late 2003, will serve as a"catalyst" for Station's stock over the next 12 months. A lawsuit filed by nearby residents was recently dismissed, as was a further appeal against the project.

Station stock advanced $1.32 to $16.99 on Monday's upgrade.

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