NYX GAMING GROUP LTD 11 PCT DEBS V.NYX.DB

Globe says NYX Gaming maintained at "speculative buy"

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Globe says NYX Gaming maintained at "speculative buy" 2016-11-22 03:55 ET - In the News The Globe and Mail reports in its Tuesday, Nov. 22, edition that Mackie Research Capital says NYX Gaming Group's ($1.21) cash flow may have turned the corner. The Globe's Gillian Livingston writes in the Eye On Equities column that Mackie analyst Nihil Thadani says in a note: "Even adjusting for higher third quarter capital expenditures (about $2-million quarter over quarter) and $1-million per month minimum Amaya license agreement, operating cash flow before working capital was positive for the first time in about two years. One of the biggest push backs against NYX has been the lack of EBITDA [earnings before interest, taxes, depreciation and amoritization] to cash flow conversion, despite very aggressive acquisitions since NYX went public about two years ago. This dynamic could be poised to change over the next few quarters. Third quarter 2016 results were relatively less noisy and cash flow is finally starting to peek through from behind 'one time' charges." The Mackie stockpicker reduced his target price by 50 cents to $3.50 per share and kept his "speculative buy" rating.