GameStop (GME): Mixed Results But Looking Ahead To Hardware Refresh - Baird
- Wall St. touches two-week high on deals, strong earnings
- AT&T (T) to Acquire Time Warner (TWX) for $107.50/Share
- Rockwell Collins (COL) to Acquire B/E Aerospace (BEAV) for $6.4B
- TD Ameritrade (AMTD) to Acquire Scottrade in $4B Cash & Stock Deal
- Pre-Open Stock Movers 10/24: (BEAV) (JPEP) (HLT) Higher; (BAS) (INO) (ADRO) Lower (more...)
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. 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.
Shares of GameStop closed at $32.16 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Wedbush Raises Price Target on Citizens Financial Group (CFG) Following 3Q EPS Beat
- Netflix (NFLX) PT Raised to $140 at Guggenheim
- Jefferies Remains Sidelined on FirstEnergy (FE) After Adjusting Forecast
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change, Earnings
Related EntitiesRobert W Baird
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!