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MKM Partners Defends on Take-Two Interactive (TTWO); Tough Start, But Far From Finished

August 1, 2012 12:23 PM EDT Send to a Friend
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Price: $22.66 +1.57%

Rating Summary:
    10 Buy, 9 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 13 | Down: 13 | New: 28
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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.




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