Take-Two Interactive Software, a well-known video game developer, has received a positive upgrade from Raymond James analysts. The analysts have upgraded the company’s shares to Outperform from Market Perform and have set a price target of $170 per share. This upgrade comes with high expectations for Take-Two Interactive’s future, particularly with the upcoming release of Grand Theft Auto 6 (GTA 6).
The analysts are optimistic about the firm’s prospects in the near and medium term, citing several reasons for their positive outlook. Firstly, they anticipate receiving release information and trailers for GTA 6 soon, which will alleviate uncertainties surrounding the game’s financial potential. GTA 6 is one of the most highly anticipated video game releases, and its success is expected to significantly impact Take-Two Interactive’s financial trajectory.
Additionally, the analysts have gained confidence in the company’s ex-Rockstar portfolio and its path to more consistent and sustainable game releases. They believe Take-Two Interactive has a strong lineup of games in the pipeline, providing a substantial number of opportunities for success.
From a valuation perspective, Raymond James considers Take-Two Interactive to be reasonably valued based on their assumptions for higher earnings following the release of GTA 6. The analysts expect the game to have a positive impact on the company’s bottom line.
Overall, this positive upgrade from Raymond James reflects the growing optimism surrounding Take-Two Interactive Software. With the highly anticipated release of GTA 6 on the horizon, the company’s future looks exciting and promising. Investors and gaming enthusiasts will undoubtedly be keeping a close eye on Take-Two Interactive as the release of GTA 6 approaches.
