In a report released today, Brian Pitz from BMO Capital reiterated a Buy rating on Take-Two (TTWO – Research Report), with a price target of $236.00.
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Brian Pitz has given his Buy rating due to a combination of factors that underscore Take-Two’s strong market position and future growth potential. Despite the delay in the release of GTA VI, Pitz maintains a positive outlook on the stock, viewing the delay as an opportunity for investors to increase their positions. The anticipated launch of GTA VI is expected to be a significant revenue driver, with an estimated 45 million units sold during its launch window, which supports a robust sales forecast.
Additionally, the delay might actually benefit the company by aligning the release with a larger console install base, potentially boosting sales. Take-Two’s diverse portfolio, including highly acclaimed franchises like GTA and Red Dead, along with potential mergers and acquisitions, further strengthens its market position. The company’s ability to execute in the upcoming quarters, coupled with adjusted financial estimates, contributes to a slightly revised target price of $236, reaffirming the stock’s Outperform and Top Pick status.
In another report released today, Citi also reiterated a Buy rating on the stock with a $260.00 price target.