Benchmark Loweres Price Target on Take-Two Interactive Software (TTWO) Ahead of 4Q15 Results
Benchmark reiterates a Buy rating on Take-Two Interactive (NASDAQ: TTWO), and lowered the price target to $31.29 (from $34.99) ahead of TTWO's 4Q15 earnings report. TTWO is scheduled to release its earnings results following the close of market today (5/18/2015).
Benchmark analyst Mike Hickey commented on TTWO, saying, "We estimate sales of $373M (Guide: $410 - $460M / Street: $465)) over adjusted EPS of $0.10, (Guide: $0.15 to $0.25 / Street: $0.28). We suspect the Company’s sales guidance for the period has been compromised (somewhat discounted, in our view) from the delay of GTA V for PC, the apparent underwhelming performance from Evolve and negative FX trends; offset somewhat by our expectation for continued strength in digital sales and related margin benefits, along with strong back catalog performance. Previously, the Company has exceeded guidance for 10 straight quarters, management credibility remains high."
For an analyst ratings summary and ratings history on Take-Two Interactive click here. For more ratings news on Take-Two Interactive click here.
Shares of Take-Two Interactive closed at $24.69 yesterday.