Jefferies Says IGT Behind The Curve, Initiates With Hold (IGT)

Jefferies & Co. is initiating coverage on Int'l Game Tech.

with a Hold and $16 price target, as it believes the company is behind its curve in technology. In the research note, Jefferies writes, "While we believe the company is plotting a valid strategy for recovery, the currently weak demand environment should limit the progress of the company's turnaround for the next several quarters. As such, we believe IGT's turnaround story will coincide with that of the market." Shares of IGT lost 26 cents yesterday to close at $15.30, a loss of 1.67%. Learn how to find the best

for free.