UBS Maintains a 'Buy' on International Game Tech (IGT); Revising Estimates For ‘12

UBS maintains a 'Buy' on International Game Tech (NYSE: IGT), PT lowered from $22 to $20.

UBS analyst says, "Still No Visibility on NA Replacement Cycle - We are getting more conservative on NA new sales/replacement sales as the replacement cycle still seems far over the horizon. We note there has been no change in the company’s position from its guidance in April."

"We are revising our 2012 EPS estimate to $1.12 from $1.20, previously. Our ‘12 estimate factors in $0.05 from share repurchase stemming from IGT’s recently announced repurchase program. We estimate the buyback program could be fully realized by 2013-2014."

For more ratings news on International Game Tech click here and for the rating history of International Game Tech click here.

Shares of International Game Tech closed at $16.34 yesterday.

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