Take-Two price target lowered to $145 from $150 at Morgan Stanley

Morgan Stanley analyst Matthew Cost lowered the firm’s price target on Take-Two to $145 from $150 and keeps an Overweight rating on the shares. Though he remains bullish on the long-term opportunity in mobile gaming, he sees a growing divergence as mobile gaming underperforms PC and console games, leading him to reduce his mobile gaming forecasts by 8% and 17%, respectively, for 2022 and 2023, Cost tells investors.