WMS Industries A Rare Bright Light in Casino Darkness
While many casino operators and other companies in the gaming sector have followed bad news and dropping stock prices with more of the same, at least one leading analyst thinks WMS Industries (WMS: 38.74 0.00%) presents a better picture.
Joseph Greff of JPMorgan raised his rating of WMS from “Overweight” to “Neutral”, and noted the company was near his price target with limited exposure for the coming quarters.
Greff cited new slot machines in production at WMS, along with prudent limitation of risk, as reasons to single out the casino supplier from the group of gambling stocks which seemingly can’t find a bottom.
The last quarterly report by WMS showed unexpected jumps in revenue and average selling price of products, beating the same quarter of the previous year by forty-eight percent.
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