International Game Technology IGT tightened EPS guidance to $0.79-$0.87 from $0.77-$0.87, Credit Suisse reports.
“We still believe the company is taking a conservative approach to guidance until there is more visibility into replacement cycle and expansion opportunities,” Credit Suisse writes.
“We are adjusting estimates and raising our target price to $21. With many ‘hot' new games ready to reach slot floors this summer we see the back end of the year as a period of accelerating results for IGT.”
International Game Technology closed Thursday at $18.32.
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Posted In: Analyst RatingsCasinos & GamingConsumer DiscretionaryCredit SuisseInternational Game Technology
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