Take-Two price target raised to $147 from $128 at Credit Suisse

Credit Suisse raised the firm’s price target on Take-Two to $147 from $128 and keeps a Neutral rating on the shares following quarterly results. The firm notes that Take-Two reported revenue and adjusted EPS that fell short of consensus due to underperformance from new releases, offset by a positive mix shift to online – RCS was in-line with Credit Suisse’s estimates and increased 38% year-over-year driven by robust engagement with franchise titles and accounted for 84% of net bookings in the quarter. That said, mobile also decelerated from flat to slightly down year-over-year but Zynga’s ad business proved a point of strength and accelerated 11% year-over-year as it benefited from Popcore and increased ad load to match what the firm believes was an ongoing recovery of the general advertising market.