Game On: These Gaming Giants are Starting to Bounce – 5/6

“Investors may want to pay close attention to video game stocks, like Take-Two Interactive (SYM: TTWO) and Electronic Arts (SYM: EA),” we noted on April 25. “Not only are they oversold, but they’re likely to benefit from surging sales again this year.”

Company: Take-Two Interactive (SYM: TTWO)

Since then, TTWO ran from about $142 to a recent high of $145.36. From here, we’d like to see it test $155 again near term. Helping, analysts at Citi just upgraded the TTWO stock to a buy rating, with a price target of $200 from $170. In the most bullish scenario, the firm believes TTWO could test $235. Two, once we get further clarity on the release of the new Grand Theft Auto game, the stock could run higher on anticipation.

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Company: Electronic Arts (SYM: EA)

Electronic Arts (SYM: EA) also ran from about $127 to a recent high of $130.46. From here, we’d like to see EA retest $133 initially. Helping, the company just announced it will raise the price of its monthly and annual EA Play subscriptions.

As noted by Seeking Alpha, “The monthly price will rise to $5.99, up from $4.99, while the annual fee is slated to rise to $39.99, up from $29.99. The higher tier subscription, EA Play Pro, is also set to increase in cost. It will rise to $16.99 on a monthly basis (up from $14.99) and $119.99 on an annual basis, up from $99.99, respectively.”

We still like TTWO and EA at current prices, and believe they could push aggressively higher.

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