Jefferies analyst David Katz downgraded International Game to Hold from Buy with a price target of $29, down from $36. The company’s strategic review which has been inconclusive since June, in which it has sought to spin or sell of its Gaming business, does not appear headed for an efficient, near-term outcome, while the lottery business faces an Italy overhang in 2024, the analyst tells investors in a research note. The firm expects other stocks in the gaming space to move up more than International Game in 2024.
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