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twitterAnalyst touts company’s stock
Monday, Aug. 12, 2002 | 11:06 a.m.
RENO -- International Game Technology, the largest U.S. maker of slot machines, is a company whose stock is worth buying because of its potential to grow as more states permit gambling, a guest on "Wall Street Week with Fortune" said.
"It's a monumental, free-flow cash generator," Larry Haverty, a media and entertainment analyst at State Street Research & Management Co., said on the PBS show. "The stock looks real cheap."
Maryland, New York, Pennsylvania and Kentucky are among the states where resistance to gaming is easing because it can generate revenue without raising taxes, the Washington Post reported.
Haverty said he and State Street own International Game Technology shares.
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