Take-Two price target lowered to $130 from $140 at Wedbush

Wedbush analyst Nick McKay lowered the firm’s price target on Take-Two to $130 from $140 and keeps an Outperform rating on the shares. Underperformance among Take-Two’s recent PC and console releases and underwhelming recurring consumer spending resulted in a decrease in 2023 guidance and a Q3 topline miss, the firm notes. As a result, Wedbush is cutting its estimates for Take-Two again.