UPDATE: Ascendiant Capital Markets Maintains Buy Rating, Lowers PT for GameStop
In a report published earlier today, Ascendiant Capital Markets, LLC maintained its Buy rating for GameStop Corporation (NYSE: GME), but lowered its price target from $30.00 to $25.00.
Ascendiant went on to say “GameStop's sales are likely to decline in FY12 as consumers appear to be waiting for the new video game cycle to begin. However, we expect GameStop's market share gains to continue. We expect a hardware price cut later this year, and easier comparisons in 2012 should allow for GameStop to achieve our comp estimate and grow earnings through cost management and improved margins.”
GameStop Corporation closed yesterday at $18.93.
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