Wedbush Lowers Price Target on THQ (THQI) to $22
More News related to THQI
- THQ President and CEO Brian Farrell to Present at the BMO Capital Markets 16th Annual Interactive Entertainment Conference
- Alone, You're Great; Together, You're Unstoppable in WWE(R) SmackDown(R) vs. Raw(R) 2009
- Wedbush Morgan Downgrades THQ (THQI) to Buy
- Citi Downgrades THQ Inc (THQI) to Hold
- THQ Inc. (THQI) Reports Q2 Loss of $0.46; Lowers Forecast; to Cut 250 Jobs
More News related to Analyst Comments
- Cramer Calls HP (HPQ) the Only Tech Stock Investors Should Trust
- Citi Reiterates a 'Hold' Rating on Ross Stores (ROST), Lowers Price Target
- Citi Maintains a 'Hold' Rating on Intuit (INTU), Lowers Price Target
- Piper Jaffray Reiterates a 'Buy' Rating on Broadcom (BRCM), Lowers Price Target and Estimates
- Analyst Defends Google (GOOG), Says Search Ads Will Hold Up Well
Wedbush Morgan lowers its price target on THQ Inc. (Nasdaq: THQI) from $28 to $22. The firm maintains a Strong Buy rating on the stock.
The firm lowered its FY08 and FY09 EPS estimates on THQ, citing lowered Q2 guidance by the company's management, which sees a loss of $0.35-$0.38. Wedbush's FY08 target goes to ($0.24) and its FY09 target goes to $0.88, versus the consensus of $0.99.
Wedbush said its $22 price target on THQ is based on 13.5x the firm's adjusted FY10 EPS estimate of $1.26, plus $5/share in cash. The Street estimate for THQ's FY10 EPS is currently $1.34.
Amid the disappointing guidance, shares of THQ are down about 6% today, and most recently around $15.10. Based on today's decline, the firm's lowered price target represents a potential gain of about 46% for investors who buy shares this morning.
THQ, Inc., together with its subsidiaries, engages in developing, publishing, and distributing interactive entertainment software for various game systems worldwide.
Related Categories
Analyst CommentsStocks Mentioned
-0.08Related Entities
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
