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
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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.

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