Benchmark Raises Price Target on Take-Two Interactive Software (TTWO) to $51.79
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Benchmark reiterated a Buy rating on Take-Two Interactive (NASDAQ: TTWO), and raised the price target to $51.79 (from $45.92). Benchmark believes that the Company has a compelling fiscal ’18 growth profile, now assuming an R* release that has rolled forward. Analysts also see announced future content for GTA Online as player engagement catalysts and related monetization opportunity.
Analyst Mike Hickey commented, "We expect continued near term financial upside and forward accelerated earnings growth with an anticipated Rockstar release in ’18. We suspect continued growth in digital sales will create a compelling margin profile. It could consider M&A as the Company is resource constrained, in our view."
Shares of Take-Two Interactive closed at $46.11 yesterday.
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