International Game price target raised to $38 from $32 at Stifel

Stifel raised the firm’s price target on International Game (IGT) to $38 from $32 and keeps a Buy rating on the shares after revisiting International Game’s recently announced review of strategic alternatives for the Global Gaming and PlayDigital businesses following talks with industry participants and investors. The firm argues that there is “a larger set of addressable buyers than intuition would suggest,” that global gaming margin expansion potential and positioning for the hyper-growth iCasino content opportunity make International Game “an attractive target for both financial & strategic buyers,” that a standalone lottery business should re-rate higher and that a potential sale likely reads favorably for Buy-rated PlayAGS (AGS) and Everi Holdings (EVRI).