Bally Technologies up on 2008 outlook

Bally Technologies up on 2008 outlook.
David Katz of CIBC said in a client note that he expects the company"s positive outlook for next year to limit the impact of late 2007 filings. He views the 2008 guidance as indicative of greater product acceptance and improved profits. 'We believe that the outstanding filings, which are expected in September, become less meaningful with the initiation of 2008 guidance,' Katz wrote. He boosted his rating on Bally Technologies stock to 'Sector Outperform' from 'Sector Perform' and increased his price target to $35 from $28. Katz also raised his 2007 earnings estimate by 2 cents to 30 cents per share and 2008 estimate by 23 cents to $1.47 per share. The estimates include stock-based compensation costs. Shares of Bally Technologies added $4.48, or 16.3 percent, to $31.83 in morning trading, down slightly from the new high of $32.25 reached earlier in the session.


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