Argus Starts International Game Tech (IGT) at Buy

September 16, 2016 7:42 AM EDT
Get Alerts IGT Hot Sheet
Price: $27.00 -0.33%

Rating Summary:
    8 Buy, 14 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 35 | Down: 31 | New: 11
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Argus initiates coverage on International Game Tech (NYSE: IGT) with a Buy rating and a price target of $30.00.

The firm said their rating and target reflect the company’s solid cash flow, synergies from the recent merger with GTECH, and prospects for strong revenue and earnings growth going forward.

The also expect IGT to benefit from greater diversification following the merger and from more moderate currency headwinds.

Argus projects 2016 earnings of $2.10 per share on revenue of $5.1 billion and 2017 earnings of $2.30 per share on revenue of $5.2 billion. Their long-term earnings growth rate forecast is 7%.

For an analyst ratings summary and ratings history on International Game Tech click here. For more ratings news on International Game Tech click here.

Shares of International Game Tech closed at $23.80 yesterday.

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