Wedbush raised the firm’s price target on GameStop (GME) to $11.50 from $10 and keeps an Underperform rating on the shares. The firm says GameStop impressed with a rare operating profit for its holiday quarter, despite sharply lower revenue. Wedbush admires management’s resolve to run the business efficiently, and based upon the results for the quarter, is more confident than it has been in the past that GameStop can achieve breakeven results for the foreseeable future.
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