Merrill Cuts Rating, Price Target for International Game Technology

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Merrill Lynch cut its rating on International Game Technology (IGT) - Get Report, a maker of computerized games for casinos, to buy from strong buy. Despite the firm's advice that investors could still buy the stock, but maybe not strongly buy it, the shares fell 6.5% to $57.20. Merrill also cut its 12-month price target on International Game Technology to $68 from $80.