Take-Two Interactive Software, Inc. (NASDAQ: TTWO) has some of the most popular franchises in video games and more likely hits in the pipeline, SunTrust Robinson Humphrey said in Thursday with a Buy recommendation.
SunTrust analyst Matthew Thornton initiated coverage of Take-Two with a Buy rating and a $125 price target.
Thornton wrote in a note that Take-Two has been an outperformer under its current leadership team and has strong and valuable sports franchises like NBA2K, as well as the Rockstar and Grand Theft Auto franchises. Grand Theft Auto, in particular, is a “North Star” game franchise for Take-Two, with “Grand Theft Auto V” being the top-selling title of all time.
There’s also a strong development pipeline and the balance sheet and cash flow flexibility to push growth with acquisitions and buybacks, according to Thornton.
The Red Dead Redemption franchise and the upcoming release of "Borderlands 3" are also potential catalysts in the near future, he said.
Take-Two traded higher by 1.65% at $113.39 on Thursday afternoon.
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Latest Ratings for TTWO
|Jun 2019||Initiates Coverage On||Buy|
|Jun 2019||Upgrades||Underperform||Market Perform|
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