Wachovia has downgraded International Game Technology (IGT) to MARKET PERFORM. And it’s about time. IGT, like most Vegas-related stocks, has been on a steady decline for months.
Wachovia is not optimistic about the gaming equipment manufacturer’s EPS growth because:
- operators are taking games off the floor
- they see delays and cancellations of future casino projects
The stock market has probably felt like gambling enough for most people.
Wachovia downgrades International Game Technology (IGT) from Outperform to MARKET PERFORM.