Oppenheimer Starts Take-Two Interactive (TTWO) at Outperform
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Oppenheimer initiates coverage on Take-Two Interactive (NASDAQ: TTWO) with a Outperform rating and a price target of $54.00.
Analyst Andrew Uerkwitz commented, "We initiate coverage of NASDAQ-listed Take-Two Interactive Software with an Outperform rating and a $54 price target. In our view, TTWO, the smallest (by market cap) of the three US publicly listed video game publishers, is well positioned for top line and earnings growth resulting from both company-specific and secular trends within the video game industry. At the same time we believe multiple expansion could be in store as the company addresses what we believe is the primary investor concern—revenue concentration related to Grand Theft Auto (GTA). Between, industry tailwinds, multiple franchise refreshes and new content, we see the stock appreciation story just beginning."
Shares of Take-Two Interactive closed at $42.50 yesterday.
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