UBS Maintains a 'Buy' on International Game Tech (IGT); Q1’12: Expect An In Line Quarter

UBS maintains a 'Buy' on International Game Tech (NYSE: IGT) price target lowered $1 to $19.

UBS analyst said, "Even though IGT’s replacements started to uptick in ’11, up +26% in FY’11, we expect upside in ‘12 to be driven by new casino openings and stable North American replacement sales, as operator capex budgets remain constrained in the backdrop of what remains an uncertain macro environment. We est. NA replacements to be flattish to up +2% in ’12. We believe IGT could see a +9% increase in NA replacements in FY’13."

UBS sees Q1 EPS at $0.21 (vs. $0.22 consensus), lowers FY12 from $1.07 to $1.04 and FY13 from $1.41 to $1.32.

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 $16.96 yesterday.

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