Stifel lowered the firm’s price target on International Game (IGT) to $20 from $22 and keeps a Buy rating on the shares after IGT held a conference call to discuss the Lotto tender win announced yesterday. The firm came away from IGT’s call “somewhat confused” on iLottery economics/uplift while expansion into OSB/iCasino carries separate execution risk, says the analyst, who adds that return targets “appear optimistic” based on the firm’s revised framework.
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