UBS says Take-Two Interactive Software has an “epic pipeline” in place thanks to the upcoming release of the video game “Grand Theft Auto VI.” Analyst Christopher Scholl upgraded the stock from Neutral to Buy. He also raised his price target to $230 from $170, implying a 25% upside from Friday’s closing price. Scholl said the strong demand for Grand Theft Auto VI, scheduled for release this fall, points to the company’s outperforming performance and strong pricing power. Scholl predicts that “in 2025, excitement will increase with new announcements, trailers, and gameplay.” “We believe this, similar to the stock’s historical outperformance prior to major releases, increases sentiment and increases confidence in TTWO’s multi-year earnings/FCF growth,” according to UBS research. , nearly 70% of respondents said they would spend less on other games because of Grand Theft Auto VI. This suggests other video game companies may change their releases and “pave the way to surpassing GTA VI’s performance,” Scholl said. In addition, Take-Two’s strong portfolio of other titles should help increase profits and bookings over the next two years, he added. The stock has been flat since the beginning of the month and has risen just 10.8% over the past 12 months. The majority of TTWO 1Y Mountain Take-Two Interactive Software analysts are bullish on the stock over the past 12 months. According to LSEG data, 23 out of 28 analysts covering the company rate it a “buy” or “strong buy.” The average price target also suggests an upside of over 7%.
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Take-Two Interactive gets upgraded from UBS amid hype for Grand Theft Auto VI
