UPDATE: Jefferies Reiterates Hold Rating, Raises PT on Take-Two Interactive Software on Solid Beat

In a report published Wednesday, Jefferies reiterated its Hold rating on Take-Two Interactive Software

, and raised its price target from $11.00 to $13.00. Jefferies noted, “Take-Two reported strong results well ahead of expectations, reflecting strong sales of NBA 2K13 and sharp growth in digital revenue. Mgmt increased Mar / FY guide (at the low end of the range), and announced a new share repurchase program. We are optimistic on key upcoming titles BioShock Infinite and Grand Theft Auto V but remain on the sidelines, for now.” Take-Two Interactive Software closed on Tuesday at $12.66.