Video Game Stocks Set to Level Up Amid Major New Releases – 3/18

Pay close attention to the global video game market.

For one, according to analysts at Newzoo, the global gaming market could generate up to. $187.7 billion just this year. Two, highly anticipated titles have been released this year, including Final Fantasy 16, Spider-Man 2, Super Mario Bros. Wonder, as noted by Even more are expected to hit the shelves in 2024.

Plus, in the next year or two, one of the most hotly anticipated games – Grand Theft Auto VI – will be released. We also have to remember that with the holidays just weeks away, gaming stocks could race even higher.

That being said, investors may want to consider:

Take-Two Interactive (TTWO)

With TTWO, a good deal of excitement is on the way.

All as millions await its hotly-anticipated Grand Theft Auto VI—which could see billions in sales.

Helping, CEO Strauss Zelnick hinted at a possible release date for Grand Theft Auto VI. “We leave the announcement of upcoming titles to our labels and we have said we have a very robust pipeline of titles and we have a great outlook for fiscal 2025 where we’ve reiterated our belief that we’ll generate about $8 billion in net bookings,” he said, as quoted by HypeBeast.

The only game that can do those kinds of sales is Grand Theft Auto.

In fact, according to Raymond James, expect “big numbers.”

As noted by Seeking Alpha: The firm bumped its rating on the video game company to Outperform from Market Perform and assigned a price target of $170 as it sees a number of reasons to become “incrementally” more optimistic on the company’s path forward. Release information about Grand Theft Auto 6 should be out soon, which “should take away the most prominent point of uncertainty around the financial trajectory.” 

Electronic Arts (EA)

Down, but not out, Electronic Arts could see higher highs, too.

With a good deal of demand, Bank of America just upgraded EA to a buy rating, with a $150 price target. For one, they noted the discount in the stock is unwarranted. Two, its FC 2024 release, according to the analysts, is just one of many near term catalysts. 

Three, they also said, “the risk in the stock is skewed attractively as its relative valuation is near a five-year low and early statistics from the launch of FC 2024 suggest there could be upside to Wall Street estimates and guidance,” as also noted by Seeking Alpha.

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