Jefferies Downgrades WMS Industries To Hold

According to Jefferies, WMS Industries WMS price target is reduced to $35. Jefferies reported that the rating is also downgraded to Hold from Buy. “While we believe that the company's reduction in outlook in part reflects the broader market dynamic facing the slot suppliers in general, we also believe that such challenges are compounding larger, more fundamental issues that are specific to the company's execution, which could hamper product momentum for an extended period. As such, we reduce our price target to $36 and downgrade the shares to HOLD from BUY.” WMS Industries closed yesterday at $36.22.