GameStop Shares Fall as Piper Jaffray Shows Concern with Wii U Sales, Cuts 2013 Estimates
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.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.