Each year Steven Halpern, editor of TheStockAdvisors.com, surveys the leading financial newsletter advisors asking for their favorite stocks for the coming year. This article is part of his 24th annual Top Picks Report.
International Game Technology (NYSE: IGT) is a favorite speculative pick for 2007 from Dan Sullivan, editor of The Chartist. The advisor, who specializes in relative strength, notes, "IGT is a leading designer and maker of microprocessor-based gaming devices, including video poker machines and video and reel-spinning slot machines.
"Due to its market share, financial strength, and innovative game designs, IGT is well-positioned to benefit from industry growth both in the U.S. and abroad. Many states have -- or are considering -- legalizing or expanding gaming as a way to generate tax revenue. Currently, casino gambling is legal in 20 states. And increasingly slot machines are being introduced to race tracks across the country.
"Also, many of the old-style machines, which are not chip-based, are candidates for replacement as casinos strive to provide the newest and hottest games for their gamblers. Both areas should be a strong revenue source for IGT over the next several years.
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