business

BOA Downshifts Speedway Motorsports to 'Buy'

Analyst Gary Cooper thinks the death of racing star Dale Earnhardt will hurt track attendance

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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