UBS said Take-Two Interactive Software has a “huge pipeline” due to the upcoming release of the “Grand Theft Auto VI” video game. Analyst Christopher Schoell upgraded the stock to “buy” from “neutral.” He also raised his price target to $230 from $170, a 25% upside from Friday’s closing price. Schoell said growing demand for Grand Theft Auto VI, which is expected to be released this fall, is a sign of the company’s strong performance and pricing power. Scheer said he expects “hype to build in ’25, driven by new announcements, trailers and gameplay.” “We believe this will drive market sentiment similar to the stock’s historical outperformance ahead of major releases and build confidence in TTWO’s multi-year profit/free cash flow growth.” A UBS survey showed that nearly 70% Respondents said they would spend less on other games in favor of Grand Theft Auto VI. Scheer said this means other video game companies may change their releases “and clear the way for GTA VI to perform well.” Additionally, Take-Two’s strong portfolio of other games will help boost profits and bookings over the next two years, he added. Shares are flat so far this month and are up just 10.8% in the past 12 months. TTWO 1Y mountain Take-Two Interactive Software Analysts have been mostly bullish on the stock over the past 12 months. LSEG data shows that 23 of 28 people covering the video game maker rate it a “buy” or “strong buy.” The average price target also indicates upside of more than 7%.
ABOUT US
Our news website delivers comprehensive coverage on US news, economy, politics, and world events, ensuring you stay informed on the latest developments. We provide timely and accurate news to keep you updated on the most important stories. Stay connected with us for in-depth analysis and breaking news from around the globe.
Contact us: contact@realtimeheadlines.com
© Real Times Headlines - 2024 | All Rights Reserved