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New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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Before the merger, the brokerage had a Hold rating on International Game Technology shares (February 2015). Staszak's newest analysis concluded with a Buy rating initiation and a price target of $30, implying upside potentials of about 25 percent from the current levels.
In the last four quarters, the company's EPS failed to meet estimates only once. Currently, Street analysts are looking for revenue growth of 8.5 percent, although EPS predictions indicated about 6.4 percent drop from last year.
Argus expects EPS of $2.10 on $5.1 billion in revenue for the current year and $2.30 on $5.2 billion in revenue for next year. Its long-term EPS growth outlook remains at 7 percent. Staszak pointed out that the stock is trading 10.1X his 2017 EPS estimate, which is below the average forward multiple of 12.0 and the 26.0 average for gaming companies.
In a research note to clients, the brokerage said, "We also expect IGT to benefit from greater diversification following the merger and from more moderate currency headwinds. Our long-term rating is also BUY, as we expect international expansion and new gaming markets in the U.S. to drive sales higher over time."
Argus pointed out that International Game Technology offered about 3.5 percent dividend yield with expectation to boost dividend payout in the next several years.
The stock closed Thursday's regular trading at $23.80, having gained $0.28, or 1.19 percent, on the day. At time of writing Friday, the stock was up 1.09 percent at $24.06.
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New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.