The Street merely shrugged when a Merrill Lynch equity analyst upgraded Gtech Holdings Corp., the world’s top lottery company, following its announcement it would undergo a mild restructuring for a pretax charge of about $45 million. And at least one investor, discouraged by recent executive fires and the apparent loss of a contract to run the UK lottery, still wants more. After the Aug. 29 restructuring announcement, Gtech’s already battered shares dropped from $17.50 to $17.13. But David Anders, the Merrill Lynch analyst, upgraded $660 million market cap Gtech to “near term buy” from “near term accumulate” after the announcement.
To read the entire story, you must be logged in.
Please log in now or register with us.
