GameStop (GME): Cutting Ests and PT After Preannouncement - Baird

November 3, 2016 7:23 AM EDT
Get Alerts GME Hot Sheet
Price: $24.27 -1.5%

Rating Summary:
    11 Buy, 9 Hold, 3 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 11 | Down: 31 | New: 42
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Baird analyst, Colin Sebastian, reiterated his Outperform rating on shares of GameStop (NYSE: GME) but cut his price target to $25 from $40 after adjusting estimates to reflect slower-than-anticipated ramp in HW/SW sales.

These new estimates reflect elevated near-term risks around sell-through of key holiday titles and new console hardware. Recent field checks had indicated mixed pre-order levels for key holiday titles through October, although promotional activity should drive holiday demand. On the bright side, Tech Brands and Collectibles sales appear stable, and free-cash-flow targets are intact.

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 $20.93 yesterday.

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