Century Casinos "buy," target price raised

03/27/06 - CA IB

NEW YORK, March 27 (newratings.com) - Analysts at CAIB Research reiterate their "buy" rating on Century Casinos Inc (CNTY), while raising their estimates for the company. The target price has been raised to $12.30.

In a research note published on March 24, the analysts mention that the company has posted its 2005 earnings ahead of the estimates, driven by lower-than-anticipated costs. Century Casinos is expected to witness a rise in the margins of its Womacks casino going forward, with marketing initiatives and cash-less gaming boosting revenue growth, the analysts say. The EPS estimates for 2006 and 2007 have been raised from $0.33 to $0.35 and from $0.63 to $0.65, respectively.