MKM Partners Defends on Take-Two Interactive (TTWO); Tough Start, But Far From Finished
Tweet Send to a FriendGet Alerts TTWO Hot Sheet
Price: $16.19 -0.86%
Rating Summary:
10 Buy, 6 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 20 | Down: 36 | New: 13
Rating Summary:
10 Buy, 6 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 20 | Down: 36 | New: 13
Trade TTWO Now!
MKM Partners maintains a 'Buy' on Take-Two Interactive (NASDAQ: TTWO) price target lowered to $15.00.
Analyst, Eric Handler, said, "The shares have taken a beating, but the story is not broken. Despite a weaker than expected start to FY13 and EPS losses projected in 2Q, we remain positive towards Take-Two based on the strength of its upcoming release slate and its potential to still approach record results for the year. While EPS of ($1.16) was roughly $0.50 shy of our ($0.65) forecast, full year guidance for the year only declined by $0.25 to $1.75-$2.00 from $2.00-$2.25. We believe this outlook reflects a stronger forecast for key upcoming releases, increased expectations for mobile sales, and lower product development costs in the remaining quarters of the year."
Q2 EPS estimate lowered from $0.20 to (0.06) and FY13 EPS estimate cut from $2.75 to $2.00
For an analyst ratings summary and ratings history on Take-Two Interactive click here. For more ratings news on Take-Two Interactive click here.
Shares of Take-Two Interactive closed at $8.78 yesterday, with a 52 week range of $8.65-$16.99.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Analyst, Eric Handler, said, "The shares have taken a beating, but the story is not broken. Despite a weaker than expected start to FY13 and EPS losses projected in 2Q, we remain positive towards Take-Two based on the strength of its upcoming release slate and its potential to still approach record results for the year. While EPS of ($1.16) was roughly $0.50 shy of our ($0.65) forecast, full year guidance for the year only declined by $0.25 to $1.75-$2.00 from $2.00-$2.25. We believe this outlook reflects a stronger forecast for key upcoming releases, increased expectations for mobile sales, and lower product development costs in the remaining quarters of the year."
Q2 EPS estimate lowered from $0.20 to (0.06) and FY13 EPS estimate cut from $2.75 to $2.00
For an analyst ratings summary and ratings history on Take-Two Interactive click here. For more ratings news on Take-Two Interactive click here.
Shares of Take-Two Interactive closed at $8.78 yesterday, with a 52 week range of $8.65-$16.99.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- UPDATE: Wedbush Downgrades XenoPort (XNPT) to Neutral
- UPDATE: BTIG Starts ING U.S (VOYA) at Buy, Shares 'Significantly Undervalued'
- Wells Fargo Downgrades Ruby Tuesday (RT) to Market Perform
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Login with Facebook
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!
