Citi Downgrades International Game Technology (IGT) to Hold.
More News related to IGT
- IGT Installs Its First REELdepth(TM) Multi-Layer Display(R) Gaming Machines at Grand Casinos in Minnesota
- BeaconEquity.com Issues Trade Alerts on Computer System Stocks: HPQ, DELL, JAVA, IGT, SGMS, IBM
- International Game Technology Announces Increase to Quarterly Dividend
- BeaconEquity.com Issues Trade Alerts on Gaming Stocks: WYNN, LVS, MGM, IGT, BYI, NCTY
- IGT Adds Its Support to AGA's 'Keep It Fun' Responsible Gaming Campaign
Citi downgrades International Game Technology Inc (NYSE: IGT) from Buy to Hold. Price target dropped from $45 to $25.
Citi analyst says, "We have downgraded IGT to Hold and have removed it from Top Picks Live in response to disappointing EPS guidance provided in conjunction with its F3Q report today...IGT has a high quality biz model. Its SB Gaming product is impressive and should stimulate a future replacement cycle. However, its biz is proving more sensitive to the economy than we previously appreciated, which reduces EPS visibility, and creates uncertainty re: timing of SB adoption. Valuation is reasonable at 18x cyclically low ’09 EPS (avg. is 20x), but no catalyst in next 12 mos. Good oppt’y for value oriented investors w/longer-term view."
International Game Technology (IGT) is a global company specializing in the design, manufacture and marketing of computerized gaming equipment, network systems, licensing and services.
Related Categories
DowngradesStocks Mentioned
+0.14Related Entities
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!
