Take-Two Interactive Software Inc (NASDAQ: TTWO) is already up 50% year-to-date but a Deutsche Bank analyst is convinced the stock is not of juice just yet.
Take-Two stock has a 15% upsideOn Tuesday, Ben Soff upgraded the video game holding company to “buy” and said its shares could climb further to $175 – up another 15% from here.
The analyst is constructive on Take-Two Interactive stock is partially based on the upcoming installment of Grand Theft Auto. His research note reads:
We believe a major product announcement, such as the highly anticipated trailer for GTA 6, is likely to drive positive investor sentiment and should serve as a catalyst for the stock.
Last week, the Nasdaq-listed firm confirmed that it plans on releasing the highly-anticipated GTA 6 trailer in December.
Take-Two recently lowered guidanceThe bullish call arrives only days after Take-Two Interactive said it now expects net bookings to fall slightly short of $8.0 billion in fiscal 2025. Its previous guidance was for more than $8.0 billion.
Still, Ben Soff dubbed the updated guidance a positive sign as it confirms that bulk of the company’s pipeline remains on track.
The New York-headquartered firm is slated to release 14 core titles combined in fiscal 2025 and 2026 which makes up for another good reason to buy Take-Two Interactive stock, he added.
We’re constructive on Take-Two’s ability to create and market top tier content and expect at least several additional titles to contribute leading to sustainable growth beyond GTA 6.
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