Deutsche Bank Upgrades International Game Tech (IGT) to Buy

Deutsche Bank upgraded International Game Tech (NYSE: IGT) from Hold to Buy with a price target of $19.00 (from $16.00).

The firm comments, "In short, we believe the worst of the IGT specific operating trends are behind them, or at the very least well understood, and we find the free cash flow generation, which we anticipate will accrue to shareholders, and beatable Consensus forecasts with growth through F2014, appealing at current levels. Simply put, we see little downside risk in the least expensive, most liquid, equipment supplier, in an environment where replacement demand isn’t shrinking and numbers are beatable and likely going higher."

For an analyst ratings summary and ratings history on International Game Tech click here. For more ratings news on International Game Tech click here.

Shares of International Game Tech closed at $13.87 yesterday.

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