Barclays Maintains an 'Equalweight' on International Game Tech (IGT); FY4Q11 Quick Look

Barclays maintains an 'Equalweight' on International Game Tech (NYSE: IGT) price target lowered $1 to $18.00.

Barclays analyst says, "IGT reported adjusted FY4Q11 EPS of $0.24, above our estimate and consensus of $0.23. Revenues were better than expected due to strong product sales driven by the highest number of domestic replacement shipments since FY4Q07. However, gross margin came in below our estimate even after adjusting for interest rate and the IP litigation settlement (56.5% adjusted vs. our 58.4% estimate)."

Barclays lowers FY EPS estimate from $1.15 to $0.98.

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 $17.68 yesterday.

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