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Top broker slaps sell rating on Ainsworth Game Technology Limited shares

The Ainsworth Game Technology Limited (ASX: AGI) share price is in the red today.

In afternoon trade the shares of the gaming machine developer, designer and manufacturer are down 0.5% to $2.36.

Unfortunately for its shareholders, as far as one leading broker is concerned, this could be the start of greater declines.

A research note out of UBS this morning reveals that its analysts have downgraded Ainsworth Game Technology to a sell rating with a $1.77 price target.

Should its shares fall to this price target, it would mean a drop of approximately 25% from the current share price.

According to the note, UBS believes that the market has been too bullish on new game releases and ultimately its future growth prospects.

Ainsworth Game Technology’s shares have gained over 30% in the last three months, vastly outperforming the market average.

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