Wells Fargo Increases Bally Technologies Estimates

Wells Fargo is increasing its Bally Technologies Inc. (NYSE: BYI) FY 2011 and FY 2012 EPS estimates and its year end 2011 base case valuation.

“Our FY 2011 EPS goes to $2.15 from $2.13 and our FY 2012 EPS goes to $2.78 from $2.54,” Wells Fargo writes. “Our year end 2011 base case valuation goes to $49 from $41.”

Wells Fargo said that its estimate revision stems largely from increased systems revenue related to the recently announced Canada systems contract.

Bally Technologies currently trades at $42.01.