“Weakness in Take-Two Interactive is an opportunity,” we said on May 15.
At the time, Take-Two Interactive (SYM: TTWO) traded at around $146. Today, it’s up to $167.18 and running.
“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,” we added.
Helping, Take-Two CEO Strauss Zelnick also says the firm is entering fiscal 2025 with “positive momentum” and expects it to deliver net bookings ranging from $5.55 to $5.65 billion over the next year, as quoted by GameDeveloper.com.
Even better, Bank of America just upgraded TTWO to a buy rating, 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],” they said, 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.”
