Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Markets & Finance

CIBC Lowers GTech to Sector Perform


CIBC World downgraded GTech Holdings (GTK) to sector perform from sector outperform.

A presiding judge in a civilian case in Brazil ordered 30% of payments due to GTech from lottery operator Caixa Economica Federal be withheld and deposited in a court-controlled account, pending adjudication. As a result, GTech, which operates lottery terminals, cut its second-quarter and fiscal 2005 guidance.

Analyst William Schmitt says this case is far from being resolved and could overhang on the shares for the next 12-to-18 months pending a resolution. He lowered the $3.10 fiscal 2005 (Feb) EPS estimate to $2.95, cut the $3.40 fiscal 2006 EPS estimate to $3.29, and trimmed the $71 target to $64.


LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus