NEW YORK (AP) -- Shares of Trump Entertainment Resorts Inc. dipped Wednesday after an analyst downgraded the casino and hotel operator on near-term concerns, including quarterly gaming revenue results and a possible smoking ban in Atlantic City.
Analyst Ryan Worst of Brean Murray Carret & Co. lowered his rating on the company founded by real estate developer Donald Trump to "Hold" from "Buy." He also suspended his price target, which was previously set at $24.
In a client note, Worst said fourth-quarter gaming revenue climbed 3 percent at Trump's Atlantic City sites, but fell short of his forecast by $6.5 million. Uncertainty over a Jan. 24 smoking ban vote may also limit near-term upside for the stock, he added.
Worst is a bit more optimistic on Trump's long-term prospects.
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http://biz.yahoo.com/ap/070117/trump_entertainment_resorts_mover.html?.v=1
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