UBS Maintains a 'Neutral' on THQ Inc. (THQI); Reorganization Results in Lowered Outlook

UBS maintains a 'Neutral' on THQ Inc. (NASDAQ: THQI) price target cut from $1.00 to $0.60.

UBS analyst said, "THQI will stream line its organization and cost structure going forward, resulting in a smaller company as it exits the kids’ licensed game category (e.g. SpongeBob) and focuses on core games (e.g. Saints Row) and digital. THQ ended the qtr with $48MM cash and no borrowings against its $50MM revolver."

UBS slashes FY12 EPS loss from (0.42) to (1.77) and FY13 from (0.11) to (1.43).

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 $0.53 yesterday.

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