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Morgan Stanley Reiterates Overweight, $21 On IGT

In a note out today, Morgan Stanley reiterated an overweight rating and $21 price target on International Game Technology (NYSE: IGT), implying decent upside from where the shares currently trade. Morgan Stanley said a bull case for International Game Technology sees the shares at $25 and the bear case sees the stock at $13.

“We continue to expect IGT to lead the general recovery in the supplier industry due to its industry-leading variable exposure to Game Ops (65% of its EBITDA). Improving ship share and a favorable skew toward new-market openings drive a compelling LT risk-reward, in our view. Our PT remains $21, and our Bull-Bear scenario skews 2:1 toward our Bull Case (50% upside / 25% downside),” Morgan Stanley said in the note.

Posted-In: Analyst Color News Price Target Reiteration Intraday Update Markets Analyst Ratings Trading Ideas

 

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