Argus Starts International Game Tech (IGT) at Buy
- AT&T (T) to Acquire Time Warner (TWX) for $107.50/Share
- Rockwell Collins (COL) in Advanced Talks to Acquire B/E Aerospace (BEAV) - WSJ
- Top 10 News for 10/17 - 10/21: Merger Rumors Abound; CEOs Depart; Tesla Kicks Autopilot Up A Notch
- Wall Street ends little changed; Microsoft hits record
- AT&T (T) in Advanced Talks to Acquire Time Warner (TWX) - DJ
Find out which companies are about to raise their dividend well before the news hits the Street with StreetInsider.com's Dividend Insider Elite. Sign-up for a FREE trial here.
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%.
Shares of International Game Tech closed at $23.80 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Stifel Upgrades PayPal (PYPL) to Buy Following 'Solid' Q3 Results
- Imperial Capital Raises Price Target on Proofpoint (PFPT) Following Strong 3Q Results
- Jefferies Cuts Price Target on Boston Beer Co. (SAM) to $140 Following Weak 3Q
Create E-mail Alert Related CategoriesAnalyst Comments, New Coverage
Related EntitiesArgus, Earnings, Definitive Agreement
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!