Raymond James sees several reasons for optimism on Take-Two Interactive Software shares
Raymond James analysts upgraded shares of Take-Two Interactive Software (NASDAQ:TTWO) to Outperform from Market Perform in a note Wednesday, assigning the stock a price target of $170 per share.
The analysts said the firm is «getting to appreciate [a] very interesting FY25 and beyond.»
Following a relatively slower period in front-line releases, Raymond James said it sees a number of reasons to become incrementally more optimistic in the company's near- and medium-term path forward.
One of the reasons is the firm expects to receive release information/trailers on Grand Theft Auto 6 soon, «which should take away the most prominent point of uncertainty around the financial trajectory.»
Furthermore, the analysts said they are gaining increased confidence in the shape of the ex-Rockstar portfolio and a path to more consistent/sustainable releases «with a strong number of shots on goal.»
Finally, Raymond James says the company has a «reasonable valuation» based on their assumptions for a higher earnings floor post-GTA 6 release.
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