Needham & Company Maintains a 'Buy' on GameStop (GME); 3Q Results Likely To Show Benefits Of Strong Release Slate
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Price: $18.40 -1.39%
Rating Summary:
3 Buy, 11 Hold, 8 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
Rating Summary:
3 Buy, 11 Hold, 8 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
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Needham & Company maintains a 'Buy' on GameStop (NYSE: GME) price target of $29.00.
Needham analyst says, "GME is scheduled to report 3Q results on Thursday November 17th before the open. We are expecting EPS of $0.39 on sales of $1.98 bbn, and now believe both figures are likely to be exceeded, owing to strong sales of some key titles in October (notably Battlefield 3, Batman: Arkham City, Rage, Skylanders and others). Consensus is also for EPS of $0.39, and guidance is in a range of $0.38 to $0.41. We expect same-store-sales rose near the high end of the guidance range of 2% to 4%. We believe guidance for EPS and SSS could be exceeded. More importantly, we expect guidance for 4Q to remain strong, given an exceptionally strong release slate for the holidays."
For an analyst ratings summary and ratings history on GameStop click here. For more ratings news on GameStop click here.
Shares of GameStop closed at $25.17 yesterday.
Needham analyst says, "GME is scheduled to report 3Q results on Thursday November 17th before the open. We are expecting EPS of $0.39 on sales of $1.98 bbn, and now believe both figures are likely to be exceeded, owing to strong sales of some key titles in October (notably Battlefield 3, Batman: Arkham City, Rage, Skylanders and others). Consensus is also for EPS of $0.39, and guidance is in a range of $0.38 to $0.41. We expect same-store-sales rose near the high end of the guidance range of 2% to 4%. We believe guidance for EPS and SSS could be exceeded. More importantly, we expect guidance for 4Q to remain strong, given an exceptionally strong release slate for the holidays."
For an analyst ratings summary and ratings history on GameStop click here. For more ratings news on GameStop click here.
Shares of GameStop closed at $25.17 yesterday.
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