International Game downgraded to Hold from Buy at Stifel

Stifel downgraded International Game to Hold from Buy with a price target of $30, down from $31. The firm says that while its long-term thesis remains intact, tear-term share upside appears constrained by tax mechanics and Italy Lotto uncertainty. The remaining company post spin-off is a lottery pure-play, but investor tax implications puts the re-rate thesis thesis on hold at minimum through deal close, the analyst tells investors in a research note.