UBS Maintains a Neutral THQ Inc. (THQI); Revenue Outlook Lowered on Slow uDraw Sales
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Price: $0.31 --0%
Rating Summary:
0 Buy, 6 Hold, 0 Sell
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Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
0 Buy, 6 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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UBS maintains a Neutral THQ Inc. (NASDAQ: THQI) price target cut from $2.25 to $1.00.
UBS analyst said, "THQI updated its outlook for its Fiscal 3Q, lowering revenue expectations by 25% from previous guidance of $510 - $550MM. The company cited weaker than expected initial sales for the high-def uDraw tablet on PS3 and Xbox, despite last year’s solid uDraw sales for Wii. With two (WWE, Saints Row) of three major holiday releases performing at or above expectations in conjunction with the sizeable reduction in revenue expectation, demand for uDraw could be very
low."
"Adjusting F3Q Estimates; NPD Video Game Sales Data Released Friday - For F3Q (Dec) we are lowering our revenue est by ~25% to $410MM vs. prior estimate of $548MM. Likewise, we now model Operating EPS of $1.11 vs. prior $1.49. November retail video game sales numbers will be released by NPD on Friday after the close, which will contain sales data for all three major releases."
For an analyst ratings summary and ratings history on THQ Inc. click here. For more ratings news on THQ Inc. click here.
Shares of THQ Inc. closed at $0.90 yesterday.
UBS analyst said, "THQI updated its outlook for its Fiscal 3Q, lowering revenue expectations by 25% from previous guidance of $510 - $550MM. The company cited weaker than expected initial sales for the high-def uDraw tablet on PS3 and Xbox, despite last year’s solid uDraw sales for Wii. With two (WWE, Saints Row) of three major holiday releases performing at or above expectations in conjunction with the sizeable reduction in revenue expectation, demand for uDraw could be very
low."
"Adjusting F3Q Estimates; NPD Video Game Sales Data Released Friday - For F3Q (Dec) we are lowering our revenue est by ~25% to $410MM vs. prior estimate of $548MM. Likewise, we now model Operating EPS of $1.11 vs. prior $1.49. November retail video game sales numbers will be released by NPD on Friday after the close, which will contain sales data for all three major releases."
For an analyst ratings summary and ratings history on THQ Inc. click here. For more ratings news on THQ Inc. click here.
Shares of THQ Inc. closed at $0.90 yesterday.
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