Wedbush Cuts Take-Two Interactive (TTWO) to Neutral Due to Lack of Visibility

February 4, 2014 7:25 AM EST Send to a Friend
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Price: $22.80 --0%

Rating Summary:
    11 Buy, 9 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 24 | Down: 21 | New: 16
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Wedbush downgraded Take-Two Interactive (NASDAQ: TTWO) from Outperform to Neutral with a price target of $19.00. Analyst Michael Pachter is cautious give lack of visibility.

"We believe that investors should be cautious about the company’s product pipeline; although Take-Two has consistently produced successful games, it has not produced a sufficient number of them to generate consistent profits," said Pachter.

"In our view, it is impossible to model EPS without knowing the company’s lineup and assigning likely revenue levels to each game; by refusing to provide visibility into its lineup, Take-Two management has abdicated its obligation to its shareholders, and we believe that investor dollars would be better directed to other publishers under our coverage," he added.

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 $18.90 yesterday.


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