UPDATE: Ascendiant Initiates Coverage on GameStop

According to a research report published earlier today, Ascendiant has initiated GameStop Corp. GME with a Buy rating and $30 PT. Ascendiant commented in the report, “GameStop will report its Q4 FY11 results on March 22, 2012. We expect GameStop will report Q4 results in line with our and consensus estimates, and within its updated guidance. We expect management to provide initial FY12 guidance close to our estimates for revenue of $9.7 billion, comps of +0.1%, and EPS of $3.20.” GameStop is currently trading at $24.46.