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IGT stock gains on rating boost

Wednesday, Oct. 6, 1999 | 11:59 a.m.

The stock of International Game Technology of Reno rose 5.6 percent Tuesday after a top gaming analyst made it one of his top picks.

Harry Curtis of BancBoston Robertson Stephens Inc. set a 12-month price target of $26 to $27 a share and an 18-month target of $35 for the giant slot and video game maker based in Reno.

"Shares of IGT have appreciated 23.8 percent since we upgraded the stock to a 'buy' rating in March, well ahead of the S&P 500's 0.5 percent increase during the same period," Curtis said.

"At its current price, IGT represents one of the most attractive values in the gaming industry, with annual earnings per share growth that should exceed 15 percent for the foreseeable future."

IGT stock closed Tuesday at $19.9375, up $1.0635 a share on nearly four times average daily trading volume.

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