In a report released today, Carlo Santarelli from Deutsche Bank reiterated a Buy rating on International Game Technology (IGT), with a price target of $32.00. The company’s shares closed last Tuesday at $20.64.
According to TipRanks.com, Santarelli is a 5-star analyst with an average return of 23.9% and a 66.7% success rate. Santarelli covers the Services sector, focusing on stocks such as Hilton Worldwide Holdings, Marriott International, and Caesars Entertainment.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for International Game Technology with a $27.33 average price target.
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International Game Technology’s market cap is currently $3.58B and has a P/E ratio of -4.10. The company has a Price to Book ratio of -0.67.
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International Game Technology Plc engages in the designing, manufacturing, and marketing of electronic gaming equipment, software, and network systems. It operates through the following segments: North America Gaming and Interactive; North America Lottery, International, Italy, and Other. The North America Gaming and Interactive segment develops and delivers leading games, systems and solutions for land-based casinos, DoubleU Games DoubleDown casino free-to-play social casino app, and interactive for-wager online play. The North America Lottery segment is involved in the development and delivery of lottery solutions, performing research and development for all lottery-related products globally. The International segment specializes in end-to-end solutions and services across all channels to regulated clients in Commercial Gaming and Lottery sectors such as strategic development and operation management. The Italy segment is responsible for lottery and machine gaming concessions, as well as ports betting, interactive gaming, and commercial services. The company was founded on July 11, 2014 and is headquartered in London, the United Kingdom.
