Take-Two Interactive (TTWO) Year Over Year Declines Likely But Expected, Stifel Expects a Beat
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Stifel analyst Drew E. Crum reiterated a Buy rating and $237.00 price target on Take-Two Interactive (NASDAQ: TTWO) ahead of earnings on August 2nd.
The analyst stated "The quarter is expected to feature y/y declines as the biz laps a record FY1Q last year. However, growth should be meaningful relative to FY1Q20, including recurrent consumer spending at 60%+ based on our assumption. And while FY2022 is more of a "transition" year, guidance appears conservative to us, suggesting upside as the company progresses towards FY2023, which management has already indicated will be a record year. Hence, for accounts that are willing to be more patient, we favor this set up and recommend buying the shares."
Shares of Take-Two Interactive closed at $172.90 yesterday.
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