GameStop (GME): 2Q Could Be Weak, It Would Be A Buying Opportunity - Baird

August 11, 2016 6:51 AM EDT
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Price: $23.58 +1.16%

Rating Summary:
    12 Buy, 10 Hold, 3 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Baird analyst, Colin Sebastian, reiterated his Outperform rating on shares of GameStop (NYSE: GME) ahead of earnings on August 25. He also tweaked estimates to account for slightly lower new hardware and software sales in Q2/Q3 largely offset by with higher Q4 estimates. Q2 is seasonally soft but there should be solid video game category sales in the months ahead with a healthy software slate and new hardware/VR SKUs.

Recognizing that there may be weakness after earnings the analyst stated "we would be buyers on GME on any weakness ahead of the seasonal ramp, while longer-term diversification initiatives provide option value"

No change to the price target of $42.00.

For an analyst ratings summary and ratings history on GameStop click here. For more ratings news on GameStop click here.

Shares of GameStop closed at $30.15 yesterday.

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