Analyst Christopher Schoell upgrades Take-Two Interactive Software stock to 'buy' citing the immense hype surrounding Grand Theft Auto VI's release and the potential for the game to dominate the gaming market.
Take-Two Interactive Software is poised for substantial growth in the coming years, largely fueled by the highly anticipated release of Grand Theft Auto VI, according to UBS analyst Christopher Schoell. Schoell upgraded the company's stock rating from neutral to buy and increased his price target from $170 to $230, projecting a 25% upside from Friday's close. Schoell attributes this positive outlook to the immense demand surrounding Grand Theft Auto VI, expected to launch sometime this fall.
He anticipates that hype surrounding the game will intensify in 2025 with new announcements, trailers, and gameplay reveals, driving investor sentiment and confidence in Take-Two's long-term profitability. A UBS survey revealed that nearly 70% of respondents expressed willingness to decrease spending on other games to prioritize Grand Theft Auto VI. This suggests a potential shift in the gaming landscape, with competing studios potentially adjusting release schedules to avoid direct conflict with the anticipated blockbuster.Beyond the Grand Theft Auto VI phenomenon, Schoell highlights Take-Two's strong portfolio of existing titles as a contributing factor to its projected growth. He believes these established franchises will continue to drive revenue and profit for the company over the next two years. Despite recent market fluctuations, Take-Two's stock has shown resilience, gaining 10.8% in the last 12 months. Notably, the majority of analysts covering Take-Two maintain a bullish stance on the stock, with 23 out of 28 rating it a buy or strong buy. The average price target also indicates an anticipated upside of over 7%
GRAND THEFT AUTO VI TAKE-TWO INTERACTIVE SOFTWARE VIDEO GAME INDUSTRY INVESTOR SENTIMENT STOCK PERFORMANCE
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