Jefferies Downgrades Intl Game Tech to Hold, Lowers Price Target to $29
Portfolio Pulse from Benzinga Newsdesk
Jefferies analyst David Katz has downgraded International Game Technology (IGT) from Buy to Hold and reduced the price target from $36 to $29, indicating a more cautious outlook on the stock.
January 04, 2024 | 12:39 pm
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Jefferies analyst David Katz downgraded IGT from Buy to Hold and lowered the price target from $36 to $29, suggesting a tempered expectation for the stock's performance.
Analyst downgrades typically lead to a negative short-term reaction in the stock price as they reflect a less optimistic view on the company's future performance. The reduction in price target further emphasizes the analyst's lowered expectations, which could influence investor sentiment and result in a decrease in stock price.
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