UPDATE: Societe Generale Starts International Game Tech (IGT) at Buy

(updated to add analyst comment)

Societe Generale analyst Sabrina Blanc initiates coverage on International Game Tech (NYSE: IGT) with a Buy rating and a price target of $20.50.

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 $17.96 yesterday.

Analyst sees value here and initiates with Buy. Says: "IGT benefits from a leading position globally in the gaming sector and a stable revenue base. It has recently boosted visibility by renegotiating most of its major contracts to supply and operate both gaming machines and national lotteries, with capex now stabilising. After a 30% fall YTD due mostly to external pressures, the stock is trading at a 19% 2019e EV/EBITDA discount to its peers."

Shares of IGT are up +0.89% currently here in mid-day trading, while SPY trades down -0.08%.

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