Baird Maintains an 'Outperform' on GameStop (GME); Negative Sentiment Presents Buying Opportunity Ahead of E3

Baird maintains an 'Outperform' on GameStop (NYSE: GME) price target of $29.00.

Analyst, Colin Sebastian, said, "GME is down 12% YTD vs. S&P up 9%, reflecting the ongoing bearish view of video game retail. However, looking beyond Q1 and negative NPD data, we see improving product momentum in console gaming beginning in May serving as a potential catalyst, along with the upcoming E3 conference. Moreover, shares typically benefit from a seasonal updraft into the spring (+15% on average), as the industry thaws from weaker Q1 sales."

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 $21.27 yesterday.

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