UPDATE: Ascendiant Capital Markets Reduced PT to $23 on GameStop on Sector Sales Decline
Ascendiant Capital Markets reiterated its Buy rating on GameStop (NYSE: GME) and reduced its price target from $25 to $23.
Ascendiant Capital Markets noted, "Video game industry sales have declined significantly in 2012 (-31% YTD) and are likely to remain so through 2012. In addition, there are concerns that video game software distribution will transition to digital (from physical) in the near future."
GameStop closed at $17.98 on Thursday.
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