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Analyst: Station Casino Deserves Higher Price

12 Oct 2004

NEW YORK – As reported by The Street.com: "Station Casinos (STN:NYSE) deserves a higher stock price because of its coming Red Rocks casino and Native American contracts, contends Harris Nesbitt Burns analyst Jeffrey Logsdon.

"The analyst Monday lifted his nine-to-15-month price target on Station stock to $63 from $51. Recently, shares fell 71 cents, or 1.4%, to $48.19, after rising as high as $49.50 very early in the session. The 52-week high is $50.96.

"…Logsdon left his earnings forecasts unchanged for the casino company. Even so, he contends Station deserves a higher multiple than other gaming companies.

"…He did establish a 2006 annual EPS estimate of $2.75, implying 20% growth from his 2005 estimate of $2.30…"

 
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