Market Overview

Goldman Sachs Tweaks IGT Estimates


Goldman Sachs is slightly raising its estimates on International Game Technology (NYSE: IGT) due to (1) the better than expected quarter, and (2) a lower than expected tax rate.

“On the negative side we are lowering our expected international shipments as we now believe our previous assumptions were too aggressive,” Goldman Sachs writes.

“Our new 2011, 2012, and 2013 EPS estimates are $0.83, $0.97, and $1.06 from $0.80, $0.95 and $1.05. We are also tweaking our quarterly estimates. We remain Sell rated on IGT given our concern over the outlook for replacements, our expectation for continued delays in new markets, and increasing competition from emerging manufacturers.”

International Game Technology currently trades at $18.67.

Posted-In: Goldman Sachs International Game TechnologyAnalyst Ratings


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