Weakness in Take-Two Interactive (SYM: TTWO) is an opportunity.
For one, video game sales are still hot.
In 2023, video game sales came in at $57.2 billion, as noted by Entertainment Software Association and Circana. Even more impressive, that number was greater than the $56.6 billion in sales for 2022, which was solid news for some of the top gaming stocks.
Two, while we’re not sure of when the new installment of its highly-anticipated Grand Theft Auto will see the light of day, it does look like most of the delay negativity has been priced into the stocks.
Plus, analysts at Citi upgraded the TTWO stock to a buy rating, with a $200 target. “Based on pricing for Grand Theft Auto V, historical performance, and recent company commentary, bookings for GTA VI could be between $2.6B and $2.9B,” added the firm.
