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GameStop Shares Fall as Piper Jaffray Shows Concern with Wii U Sales, Cuts 2013 Estimates

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Shares of GameStop (NYSE: GME) are leading the video game sector lower Thursday afternoon following some cautious comments from Piper Jaffray's Michael Olson. The stock is down more than five percent to around $26.14.

Olson is concerned with sales of Wii U and lowered his installed base estimates for next year. The analyst reduced sales, same-store sales and earnings estimates for 2013.

Olson maintains a Neutral rating and $14 price target.

Shares of Activision Blizzard (NASDAQ: ATVI) are down about two percent at last check; shares of EA (NASDAQ: EA) are down just over two percent.

Latest Ratings for GME

DateFirmActionFromTo
Nov 2016WedbushMaintainsOutperform
Nov 2016PiperJaffrayDowngradesOverweightNeutral
Sep 2016Hilliard LyonsUpgradesNeutralBuy

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