International Game price target lowered to $23 from $26 at Truist

Truist lowered the firm’s price target on International Game to $23 from $26 and keeps a Hold rating on the shares. The company’s Q1 EBITDA topped estimates with a Lottery beat offsetting a Gaming & Digital segment miss miss of shifting cadence of separation costs, the analyst tells investors in a research note. The bears may cite the loss of diversification post separation, but Truist adds that it “could see longer-term merits” to the lottery unit being separated from its gaming businesses, the firm added.