Barclays Maintains an 'Equalweight' on International Game Tech (IGT); Investor Day: Opportunities for Growth

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

Barclays analyst says, "IGT provided an upbeat overview of its current strategic initiatives at its investor day, with a focus on growth opportunities in international markets, the interactive space, and the newly announced cloud computing program. While many of these initiatives are longer term in nature, we believe that IGT's move to broaden its portfolio could one day lead to an "evergreen" underlying business characterized by greater stability and less exposure to any particular market or jurisdictional opening."

"Over the next 3-5 years, management is aiming for gross margin of 60%+ and operating margin of 30%+...IGT aims to grow its international ship share from the mid-teens to the mid-20%+ range over the next 3-5 years, particularly in Latin America and Asia Pacific."

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 $16.88 yesterday.

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