Sterne Agee Reiterates Buy, $30 Target on GameStop

In a company report, Sterne Agee maintains its Buy rating and $30 target price on GameStop Corp. (NYSE: GME) as November trends bode well for the remaining holiday period.

Sterne Agee says, “We believe several factors could drive the stock higher in the near term including: 1) potentially good holiday results; 2) a soon to be debt-free balance sheet; 3) stock buybacks; 4) a positive outlook for 2012, which includes the launch of PS Vita and Nintendo Wii U, etc.”

GME closed at $22.72 per share on Tuesday.