Isle of Capri Casinos initiated with "sell"

12/05/05 - Brean Murray & Co

NEW YORK, December 5 (newratings.com) - Analyst Ryan L Worst of Brean Murray initiates coverage of Isle of Capri Casinos Inc (ISLE) with a "sell" rating. The target price is set to $23.

In a research note published this morning, the analyst mentions that the company’s current share price largely reflects speculation of slots in Florida. Isle of Capri Casinos' properties in difficult markets, such as Shreveport and Lake Charles, LA, would remain under pressure, the analyst believes. The company is likely to witness increased competitive pressure at its properties in Black Hawk, CO and Quad Cities, IA, during 2006, Brean Murray adds.