GameStop (GME) Bullish Stance Reiterated at Baird Following Holiday Sales Update

Baird analyst Colin Sebastian reiterated an Outperform rating and $50 price target on GameStop (NYSE: GME) following holiday sales numbers which were largely in-line with the firm's expectations.

Sebastian commented, "GameStop reported solid holiday and digital sales, generally in line with our expectations, driven primarily by next-gen software sales (+94% Y/Y) and 50% digital content growth, offset slightly by F/X headwinds. As previewed, holiday discounting also weighed a bit on SSS, but unit growth was healthy. Looking ahead, we expect GME to show improved momentum throughout the year as the product mix continues to shift from hardware to higher-margin next-gen software"

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 $32.77 yesterday.

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