Redburn Atlantic initiated coverage of Take-Two Interactive with a Buy rating and $194 price target. The company is approximately a year away from releasing Grand Theft Auto VI, the next iteration in what is by far the world’s most successful crime video game franchise, the analyst tells investors in a research note. The firm sees a tripling of Take-Two’s operating income over the next couple of years and upside to consensus non-GAAP earnings estimates. It believes the game “will be transformational” to Take-Two’s financials.
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