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Ahead Of Bell: Bally Technologies Downgraded

The Associated Press

NEW YORK (AP) — A Goldman Sachs analyst downgraded slot-machine maker Bally Technologies Inc. Thursday, saying there are other companies that provide "better relative value."

Analyst Steven Kent dropped Bally to "Neutral" from "Buy," but reaffirmed a $31 price target.

"We continue to believe that Bally Technologies will benefit from new states rolling out gaming and a pickup in the replacement cycle," he wrote in a client note.

Kent pointed out that the downgrade on Las Vegas-based Bally was also due to his upgrade of the hotel sector to "Attractive" and Starwood Hotels & Resorts Worldwide Inc. being boosted to "Buy" from "Sell."

Shares of Bally closed Wednesday at $27.27.