UPDATE: Oppenheimer Upgrades GameStop (GME) to Outperform

June 14, 2013 6:42 AM EDT
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Price: $23.75 +0.72%

Rating Summary:
    12 Buy, 10 Hold, 3 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 22 | Down: 16 | New: 11
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(Updated - June 14, 2013 8:57 AM EDT)

Oppenheimer upgraded GameStop (NYSE: GME) from Perform to Outperform with a price target of $50.00 (from $27.00). Analyst Brian Nagel thinks Xbox One and PS4 launches will drive a resurgence in sales.

He raised FY14 EPS to $3.80 and introduced FY15 EPS of $5. This compares to consensus of $3.13 and $3.68, respectively.

For an analyst ratings summary and ratings history on GameStop click here. For more ratings news on GameStop click here.

Shares of GameStop closed at $37.53 yesterday.

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