Scientific Games (SGMS)
Scientific Games has a leading position in several markets, including the instant ticket and online lottery markets. In addition, Scientific Games continues to win significant contracts in both the instant ticket and online lottery markets from both domestic and international lottery authorities.
Also, the company has made several acquisitions that have accelerated top-line growth. Ron Perelman, a world-renowned private investor, owns 28.1% of the company's stock. The Buy rating is maintained.
Scientific Games is currently selling at 20.6 times trailing 12-month earnings. Over the last few years, the stock has traded in a wide P/E range of 16 to 38. The stock traded with a significant P/E premium as a result of the company's leading market position. The six-month target price of $33.50 is based on a 30 P/E multiple on 12-month trailing earnings.
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| Market Summary | Nov 26, 2009 09:30 am ET |


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