UPDATE: Sterne Agee Reiterates Buy Rating on GameStop Corporation on Company Focus
In a report published by Sterne Agee, analyst Arvind Bhatia reiterated a Buy rating and $30 price target on GameStop Corporation (NYSE: GME).
Sterne Agee reported that, “1Q'13 Street estimates appear high to us in light of slower-than-expected recent industry trends. However, full-year Street estimates seem reasonable. Near-term risks notwithstanding, we believe GME's dominant market share in the space positions it well for the upcoming cycle. In addition, opportunities in mobile recommerce, a strong free cash flow yield, ongoing buybacks and a debt-free balance sheet keep us bullish on the stock.”
Shares of GameStop Corporation closed at $25.45 on Wednesday.
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