Take-Two Interactive (TTWO) PT Raised to $45 at Piper Jaffray Amid Mixed Qtr

August 5, 2016 8:47 AM EDT
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Price: $49.78 +0.24%

Rating Summary:
    15 Buy, 7 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 21 | Down: 36 | New: 11
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Piper Jaffray analyst Michael Olson reiterated an Overweight rating and bumped his price target on Take-Two Interactive (NASDAQ: TTWO) to $45.00 (from $40.00) following mixed June quarter.

Olson commented, "Take-Two reported mixed June quarter results, with EPS below at ($0.34) vs. the Street at ($0.29), but revenue above at $273M vs. the Street at $259M. The quarter was driven by digital rev from GTA Online and NBA 2K16. Digital rev declined 25% y/y due to a difficult comparison to the PC launch of GTA V, but GTA Online had its best ever qtr of "bookings" and recurrent consumer spending overall increased 22% y/y. For FY17, the company maintained EPS outlook for $1.00-$1.25 while modestly increasing revenue by $50M to $1.55-$1.65B vs. consensus of $1.29 on $1.6B. While FY17 EPS guidance is below consensus, most investors will likely give Take-Two a "pass," given the strong performance of GTA Online and expectations for a Red Dead in FY18. Maintain OW, raising PT to $45 from $40 on an increased multiple to 17x from 14x and increased FY18E EPS."

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 $40.57 yesterday.



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Related Categories

Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change

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Piper Jaffray, Michael Olson

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