Goldman Sachs Maintains Neutral, $24 PT on GameStop

In an equity research note, Goldman Sachs retains its Neutral rating and price target of $24 on GameStop Corp. (NYSE: GME) after NPD software data came in weaker than expected on November 11.

Goldman Sachs comments, “We expect the company to lower its full year same-store sales guidance of +1%-3%, but likely reiterate its full year EPS range of $2.82-2.92, as we expect continued margin benefits from digital initiatives and the PowerUp program, as well as expense discipline, both of which should mitigate a weaker top line. We stand below the Street on sales for 4Q, at $3.66bn vs. $3.88bn, but above on EPS at $1.77 vs. $1.74.”

GME closed at $25.17, up 2.32 percent on Friday.