Take-Two Interactive (TTWO) PT Raised to $59 at Stifel Into Red Dead Redemption 2 Launch

Stifel analyst Drew Crum reiterated a Buy rating and raised his price target on Take-Two Interactive (NASDAQ: TTWO) to $59.00 (from $52.00) with the upcoming launch of Red Dead Redemption 2.

Crum commented, "We are increasing our target price on Take-Two to $59, with the upcoming launch of Red Dead Redemption 2, arguably the most anticipated console game this year, serving as an event-driven catalyst and reason to own the shares, in our opinion. Beyond this release, we have a positive bias on the company's content cycle, and view its large (and growing) cash position ($10+/share) as a strategic asset/opportunity to participate in industry consolidation, which we think may limit downside risk."

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 $50.81 yesterday.

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