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UPDATE: Ascendiant Capital Markets Reiterates Buy Rating, Raises PT on GameStop

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In a report published Friday, Ascendiant Capital Markets reiterated its Buy rating on GameStop Corp. (NYSE: GME), and raised its price target from $23.00 to $29.00.

Ascendiant Capital noted, “We believe that attractive valuation and strong cash flow generation should offset concerns. GameStop has a new $500 million share repurchase program (based on today's share price, this may have a potential EPS impact of up to $0.70/year). GameStop's dividend ($0.25/share per quarter) is attractive as this equates to an annualized yield of 4%.”

GameStop Corp. closed on Thursday at $24.21.

Posted-In: Ascendiant Capital MarketsAnalyst Color Price Target Analyst Ratings

 

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