Jefferies Upgrades GameStop (GME) to Buy; 'Cycle Trade Is On'

September 14, 2020 12:29 AM EDT
Get Alerts GME Hot Sheet
Price: $180.36 +0.84%

Rating Summary:
    3 Buy, 11 Hold, 8 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 18 | Down: 12 | New: 23
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Jefferies analyst Stephanie Wissink upgraded GameStop (NYSE: GME) from Hold to Buy with a price target of $8.00 (from $7.00).

The analyst comments "Following a hosted call with mgmt, we are upgrading shares to Buy. We maintain a disciplined approach to our thesis as the story isn't without risk, but offers asymmetric reward in the near term. Q4 kick-starts the next gen console cycle and we expect GME to win big & early - financing & trade-in options, high attach rates, AAA title line-up, peripherals, CRM and digital value streams are all advantages; costs addressed & cash adequate. $8 PT + upside."

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 $6.09 yesterday.

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