GameStop (GME): Mixed Results But Looking Ahead To Hardware Refresh - Baird

August 26, 2016 6:16 AM EDT
Get Alerts GME Hot Sheet
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
Trade GME Now!
Join SI Premium – FREE

Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.

Baird analyst, Colin Sebastian, reiterated his Outperform rating on shares of GameStop (NYSE: GME) after the company reported mixed Q2 results with in-line EPS and below-consensus revenues. The weakness came from the drop-off of HW sales in June/July. Lower used product margin along with video game market share losses highlight ongoing secular headwinds; however, better-than-expected "Tech Brands" and Collectible sales/margins were positives.

Looking ahead, the analyst expects improving seasonal trends, with added benefits from HW launches (including PlayStationVR) and recent AT&T reseller acquisitions. The price target drops to $40.00 from $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 $32.16 yesterday.



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In






Related Categories

Analyst Comments, Analyst EPS Change, Analyst PT Change, Earnings

Related Entities

Robert W Baird

Add Your Comment