Sell: Bally Technologies (BYI)
from Upside Updated from Investment Digest 729, October 24, 2012
Bally Technologies (BYI) was downgraded to Sell after the company agreed to be acquired by Scientific Games (SGMS) for $83.30 in cash per share. The deal is expected to close early next year. A higher bid could materialize.
And the current stock price is 7% below the deal price, tempting shareholders to hang on to the stock. The wise move is to sell Bally, which has surged 29% since the deal was announced on July 31.
Richard J. Moroney, CFA, Upside, www.upsidestocks.com, 800-233-5922, September 1, 2014