“Weakness in Take-Two Interactive is an opportunity,” we said on May 15.
At the time, it traded at $146.
Today, after hitting a high of $168.68, it’s back to $158.22, offering us another buy opportunity on the dip. In fact, after catching strong support at just under $154, Take-Two Interactive (SYM: TTWO) is starting to pivot higher again.
Last trading at $158.22, we’d like to see it initially retest $168.68 and head higher as we near the eventual release of the new Grand Theft Auto game. Helping, Bank of America recently upgraded TTWO to a buy with a $185 price target.
“We no longer feel that TTWO lacks the catalyst needed to attract marginal buyers, as we did upon our downgrade [in December],” said the firm, as quoted by Seeking Alpha. “The release of two immersive sequels, other than GTA 6, in FY25 makes TTWO attractive at its current valuation, buying time for an update from Rockstar Games.”
