Benchmark analyst Mike Hickey lowered the firm’s price target on Take-Two to $125 from $139 and keeps a Buy rating on the shares ahead of the Q3 earnings report on February 6. While the quarter should benefit from continued sales of NBA 2K23 and Live Service net bookings from Grand Theft Auto Online and NBA 2K, Hickey is cautious on a consumer pinch from macroeconomic pressure that may have extended from mobile and Live Service to casual and premium games, the analyst tells investors in a research note.
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on TTWO:
- U.S. video game consumer spending rose 2% y/y in December, says NPD
- ‘Call of Duty: Modern Warfare 2’ top game seller in U.S. in December, says NPD
- Ubisoft guidance cut not a negative read to Take-Two, EA, says BofA
- Amazon Game Studios loses another key executive amid cutbacks, Bloomberg says
- What You Missed This Week in Video Games
