Wedbush Morgan Upgrades GameStop (GME) to Outperform; Current Valuation is Compelling
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Wedbush Morgan upgrades GameStop (NYSE: GME) from Neutral to Outperform. Price target increased from $29 to $34
Wedbush analyst says, "We believe that GameStop’s current valuation is compelling, and we expect the company to benefit from several near term catalysts, including hardware price cuts, a much improved software release slate, and much easier industry sales comparisons. We expect the company to comp above expectations for the next year...We expect industry sales to return to positive territory in September, and think that GameStop is well positioned to recover as well. Over the long term, a shift in sales mix toward higher-margin new and used software should allow earnings to grow...our FY10 EPS estimate is $3.05."
To see more analyst ratings on GME Click Here.
GameStop Corp. operates as a retailer of video game products and personal computer (PC) entertainment software.
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