Correlated Stock Forecasts

Assets that tend to move strongly with IGT

RRR Forecast   Red Rock Resorts (0.87)

LEU Forecast   Centrus Energy (0.87)

MGM Forecast   MGM Resorts International (0.87)

KRE Forecast   SPDR S&P Regional Banking (0.87)

WBS Forecast   Webster Financial (0.86)

Anticorrelated Stock Forecasts

Assets that tend to move strongly against IGT

TMUS Forecast   T-Mobile US (-0.69)

PNW Forecast   Pinnacle West (-0.68)

MIC Forecast   Macquarie Infrastructure (-0.68)

EBR Forecast   Centrais Eletricas Brasileiras (-0.67)

VXX Forecast   iPath Series B S&P 500 VIX Short-Term Futures (-0.66)

      News Sentiment: +0.3 (Past 200 Days)

How To Interpret
International Game Technology Forecast

International Game Technology (IGT)


Complement Helium's AI IGT Forecast with Balanced News to Deepen Your Understanding

IGT Lottery Unit Deserves More Attention From Investors

Last updated on: June 8, 2022, 01:15h. Todd Shriber @etfgodfather Read More Expertise: Financial, Gaming Business, Mergers and Acquisitions. International Game Technology (NYSE:IGT) is the maker of the famous Wheel of Fortune slot machine, and has budding exposure to iGaming, among other pursuits. But an analyst argues investors shouldn’t lose sight of the company’s thriving lottery business. A bank of IGT’s Wheel of Fortune slot machines. An analyst says IGT’s lottery business deserves more credit. (Image: Las Vegas Weekly) In a report to clients, Stifel analyst Jeffrey Stantial highlights IGT’s lottery unit, noting that business could prove durable even if the economy slumps. He points out that lottery accounts for 75% of IGT’s pro forma earnings, but commands just 25% of the focus the investment community pays to the gaming company. Our constructive view on the shares remains anchored by a valuation dislocation for IGT’s cash generative, recession resilient, and fundamentally accelerating lottery business with disproportionate focus paid to IGT’s smaller iGaming business,” writes the analyst. Stantial reiterates a “buy” rating on IGT with a $36 price target, implying upside of 63.6% from June 7 close. The shares are down 23.66% year-to-date. IGT Lottery Fighting Conglomerate Discount Blues Part of the reason IGT’s lottery arm may not be getting the credit it deserves is that the company has other operations, making it a gaming conglomerate of sorts. The thesis that IGT stock is receiving a conglomerate discount isn’t unreasonable. Lottery assets are cash generators and desirable in the investment community, but often don’t get full credit when the parent company has other lines of business. Stifel’s Stantial calls the valuation gap between IGT and publicly traded Australian and European peers “overly punitive,” but acknowledges it’s closing. Still, there’s no getting around the fact that in the gaming industry, lottery is on...     Jun 15, 2022