If you’re looking for opportunity in this crazed market, keep an eye on upgrades.
Just don’t use the information as your sole catalyst to buy. Instead, do your own due diligence. Check out what the stock is doing technically and fundamentally before diving in.
Company: UBS just upgraded TTWO to a buy rating thanks to its “unprecedented pipeline,” which includes the heavily-demanded Grand Theft Auto games. Better, once the latest Grand Theft Auto is released, we expect to see blockbuster sales. “We are upgrading shares from Neutral to Buy and raising our PT to $230. With increased conviction in GTA VI [Grand Theft Auto] demand and a robust lineup of other titles, we expect bookings, profits and FCF to inflect over the next two yrs, lowering leverage and freeing capital for accretive investments,” added UBS, as quoted by CNBC. Technically, TTWO is consolidating around $188.80 at the moment. From here, we’d like to see it back above $200 a share.
Goldco
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