Jefferies Maintains Buy on Bally Technologies

Jefferies is out with its report today on Bally Technologies BYI, maintaining Buy. In a note to clients, Jefferies writes, "With the collection of flimsy theses and missed expectations, investors' trepidation on equipment companies has been sensible. However, we believe a change is forthcoming in 2HFY12, and some credit for certain business opportunities should be given. Although our updated estimates suggest the next few quarters should bear little change from the past several, we remain focused on the key differentiating factors for BYI." Jefferies maintains a $52 PT on BYI. Shares of BYI closed Thursday at $41.10, up 1.83% from Wednesday's close.