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  • Take-Two Prospects Seen Strong on ‘Stay-at-Home Tailwind’
  • Crypto

Take-Two Prospects Seen Strong on ‘Stay-at-Home Tailwind’

Jack Paul May 26, 2020 2 min read
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Shares of Take-Two Interactive  (TTWO) – Get Report were lower even as the videogame specialist drew bullish comments from analysts at BMO Capital and Deutsche Bank. Analysts at BMO Capital upgraded shares of the New York company to outperform from market perform, anticipating “stay-at-home tailwinds to persist for the video game industry.” The firm raised its 12-month price target to $170 a share from $120. Meanwhile, analysts at Deutsche Bank called Take Two a “compelling growth story” that will “significantly increase its earnings power over the next few years.”In the fourth-quarter-earnings report, Chief Executive Strauss Zelnick said fiscal 2021 will be a “light new release year,” with the company saving its big title releases for fiscal 2022. The stock fell on Zelnick’s comments despite the otherwise strong fiscal quarter and year.  Take-Two’s lone “major title release” in fiscal 2021 will be NBA 2K21, according to Deutsche Bank analyst Bryan Kraft.  And the Action Alerts PLUS charitable trust last week lifted its Take-Two price target to $150 per share. Take-Two shares at last check were off 4.7% to $133.87, even as the Nasdaq Composite Index rose 0.78%. Stocks on Tuesday were higher as states around the country relaxed their economic restrictions over the Memorial Day weekend. Kraft says investors are already aware of the economic environment surrounding the company and “we don’t think this trough earnings year will end up being down from fiscal 2020 by more than a few percentage points.”The analyst also says that Deutsche Bank’s outlook is more bullish than the company’s own guidance, which the firm sees as “quite conservative.”  Take-Two is a holding in Jim Cramer’s Action Alerts PLUS member club. Want to be alerted before Jim Cramer buys or sells TTWO? Learn more now.

Jack Paul

I’m a highly sought-after speaker and advisor, and have been featured in major media outlets such as CNBC, Bloomberg, and The Wall Street Journal. I am passionate about helping others to understand this complex and often misunderstood industry. I believe that cryptocurrencies have the potential to revolutionize the financial system and create new opportunities for everyone.

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