Take-Two upgraded to Buy from Neutral at Citi

Citi upgraded Take-Two Interactive to Buy from Neutral with a price target of $200, up from $170. There are three key unknowns today for the shares: the timing of GTA VI’s release, the magnitude of GTA VI bookings and trends within the mobile portfolio, the analyst tells investors in a research note. However, at prevailing stock levels Citi sees a bull case of $235 and a bear case of $130, akin to a favorable 4:1 risk-reward, the analyst tells investors in a research note. The firm believes timing of GTA VI’s release “is a very real but a manageable risk.”