Keith bought IGT in the Hedgeye Virtual Portfolio at $15.74. According to his model, the TRADE support is at $14.82 and the TREND support is at $15.31.
With good earnings visibility over the next few quarters and an aggressive stock buyback, we believe there is limited downside to the stock. Positive catalysts include a potential FQ3 earnings beat and strong international sales which would lead credence to the company's aggressive international market share goals. We remain positive on the slot sector as we think the industry is in the early innings of a 3-5 year bull cycle.
