Argus Starts International Game Tech (IGT) at Buy
- Top 10 News for 9/19 - 9/23: Twitter on the Auction Block; Allergan Bolsters NASH Effort; Microsoft Returns Value
- Wall Street falls as energy lags; shares post gains on week
- Rumored Forever, Twitter (TWTR) May Have Finally Put the 'For Sale' Sign Up
- Facebook (FB) Shares Under Pressure on Reports Video Ad Metrics Were Artificially Inflated
- Brookfield Infrastructure (BIP)-Led Consortium to Take Controlling Stake in Petrobras' (PBR) NTS for $5.2B
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium 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
- Prudential Financial (PRU) Garners Spot on Goldman Sachs's Conviction Buy List
- CBOE Holdings (CBOE) in Talks to Acquire Bats Global Market (BATS) - Bloomberg
- Activision (ATVI) and EA (EA) to Benefit from Shift to 'Engagement Monetization', Says Morgan Stanley; Analyst Initiates Coverage on ATVI and EA With 'Overweight' Ratings
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!