cemagraphics
Argus turned more constructive on International Game Technology (NYSE:IGT) with revenue growth anticipated for the lottery and gaming businesses.
Analyst John Staszak and team expect Buy-rated IGT to benefit as many casinos purchase products in order to enter the growing sports betting and online gaming markets. They noted that IGT's products also allow casinos to avoid the cost of developing their own online gaming platforms.
Argus has a 2022 EPS estimate of $1.60 and raising its 2023 estimate to $1.85 from $1.80. The firm's new price target of $28 when combined with the dividend implies a potential total return of 13% from current levels.
Shares of IGT rose 0.99% in early trading on Tuesday to $25.62.
The Seeking Alpha Quant Rating on International Game Technology (IGT) is flashing Strong Buy and the quant score is the third highest in the entire casino and gaming sector.