Now that shares of International Game Technology (IGT Quote) are trading at 52-week lows, investors may be wondering whether it's time to pull the lever on the slot machine maker's stock.
Some Wall Street analysts are urging caution, however, arguing that positive catalysts for another IGT jackpot remain perhaps a year away. In the meantime, intensifying competition from rivals -- combined with a sluggish slot machine market -- could continue to weigh on the stock.
In a recent survey of slot managers at 150 casinos in 23 states, Goldman Sachs analyst Steven Kent found that replacement demand is slowing but competition is "heating up," with Aristocrat Leisure of Australia, Alliance Gaming (AGI Quote) and WMS Industries (WMS Quote) "closing the gap" on IGT. ...
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