BofA analyst Omar Dessouky raised the firm’s price target on Take-Two to $135 from $120 and keeps a Buy rating on the shares. A 2.5-times multiple expansion in the company’s peer group lead the firm to raise its multiple for Take-Two to 15.5-times from 14-times the average of its FY2E4 and FY25E EPS estimates, noting that its new multiple is in line with the mean of peers and that its revised price target does not assume a GTA 6 launch in FY25.
Published first on TheFly
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