GameStop (GME): Annual Expo Highlights October's Future Hits - Baird
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Baird analyst, Colin Sebastian, reiterated his Outperform rating on shares of GameStop (NYSE: GME) after attending GameStop's annual expo in Anaheim. This serves as an opportunity for publishers/vendors to educate GameStop managers and consumers on new titles and hardware and signals to analysts which titles are most likely to be hits.
Mr Sebastian, saw the greatest excitement from managers and consumers around the Activision's (NASDAQ: ATVI) Destiny: Rise of Iron expansion (9/20 release) and EA's (NASDAQ: EA) Titanfall 2 (10/28 release). Additionally, conversations with managers gave him confidence that recently announced hardware launches (PS4 Pro, Sony VR) could fuel traffic-related upside in 2H16.
price target of $40.00
Shares of GameStop closed at $27.03 yesterday.
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