In a research note titled "Complexity Does Not Equal Risk," Jefferies analyst David Katz keeps a Buy rating on International Game Technology while reducing his price target for the shares to $29 from $30. The analyst's recent meetings with management indicated an engaged shareholder base who maintains confidence in the company's long term cash flow generation, "despite an increasingly complex near term." Katz believes the Street is still processing the myriad items benefiting and impacting International Game's results in 2019. However, he continues to believe the company's "multiple catalysts skew positive" and will "ultimately identify the company as one of the most mispriced" in his coverage universe.

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