BOA Downshifts Speedway Motorsports to 'Buy'
Banc of America downgraded its rating on Speedway Motorsports (TRK ) to buy from strong buy.
Analyst Gary Cooper believes Speedway is undervalued and has good long-term prospects, but says the death of NASCAR's largest fan draw, Dale Earnhardt, will negatively impact attendance this year. Cooper says NASCAR will survive as a sport and business, but fans need time to form allegiances to other drivers. He cut his $1.58 2001 EPS estimate to $1.54.
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