Take-Two Interactive (TTWO) PT Lowered to $330 at BofA Securities, 'We recommend being long TTWO through the GTA 6 launch'

BofA Securities analyst Omar Dessouky lowered the price target on Take-Two Interactive (NASDAQ: TTWO) to $330.00 (from $368.00) while maintaining a Buy rating.

The analyst comments "We recommend being long TTWO through the GTA 6 launch; it remains cheap on the LT growth we believe will soon become apparent. Investors we spoke with this year became increasingly focused on a potential post-launch earnings air pocket in FY29, as GTA 6 full-game sales normalize, fueling concerns that the current valuation of already reflects peak earnings. We believe that framing misses the most important long-term earnings driver: GTA Online monetization. Our LT EPS growth forecast is materially stronger than what we’ve heard, and a GTA Online launch in 1CQ27 should begin providing tangible evidence of that monetization upside. As that strength becomes apparent, we believe the market will need to revise its long-term EPS growth forecasts higher, making today’s valuation of 16x our FY28 EPS forecast look increasingly inexpensive."

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