Ameristar Casinos upgraded to ‘neutral’ from ‘underweight’

Ameristar Casinos Inc. (Nasdaq:ASCA) was upgraded today by J.P. Morgan Securities to “neutral” from “underweight.” The upgrade was based on the possibility of a takeover offer, and it came on the heels of last Thursday’s announcement of the ending of Penn National Gaming Inc.'s (Nasdaq:PENN) $6 billion takeover deal. Analysts said this might make Ameristar an attractive investment for Penn. In spite of the upgrade, shares of Ameristar are trading only slightly up at $13.48, about 0.30% higher than Friday’s close. Trading volume is at more than 1.2 million shares, double the stock’s average.

For access to the full article, you must be a registered member - it's FREE.

Already a member? Please log in below