Century Casinos upgraded to "buy" - update

10/09/07 - Brean Murray, Carret & Co

NEW YORK, October 9 (newratings.com) - Analyst Ryan L Worst of Brean Murray upgrades Century Casinos Inc (CNTY) from "hold" to "buy." The target price is set to $8.50.

In a research note published this morning, the analyst mentions that the company’s share price has declined by 37% since the announcement of its 4Q06 results. The possible acquisition of a 35% minority stake in the Central City casino is likely to lend substantial upside to Century Casinos’ stock, the analyst says. The company’s current assets are expected to boost EPS growth of more than 20% in the forthcoming two years, Brean Murray adds.