Take-Two Interactive (TTWO) PT Raised to $250 at Benchmark Into Results
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Benchmark analyst Mike Hickey raised the price target on Take-Two Interactive (NASDAQ: TTWO) to $250.00 (from $201.00) while maintaining a Buy rating.
The analyst commented, "TTWO will release F3Q21 results on Monday, 02/08, AMC and hold a conference call at 4:30pm ET, Dial: 1.866.777.2509. We anticipate strong F3Q21 financial results, led by key franchises including Grand Theft Auto, Red Dead Redemption and NBA 2K. We believe the virus influence has provided a sustained step up in recurrent revenue and digital delivery of games that should enable continued financial momentum, elevate operational scale, and awaken margin. TTWO has an enormous pipeline of games over the next 5 years and we believe the next Grand Theft Auto release in FY23, which should unleash an exceptional growth opportunity and elevate valuation consideration. TTWO's EBITDA margin is averaging 25%, compared to their peer group range of 35% to 45%, we anticipate they will cross this margin divide as business continues to scale. TTWO has $2.4M cash, $0 debt and significant FCF. We think TTWO will increase M&A activity."
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