Market Overview

GameStop Shares Off Session Lows As SunTrust Defends

Share:
Related GME
Must Watch Stocks for Today
Oxford Industries, Orexigen And GameStop Lead Thursday's After-Hours Movers
GameStop's (GME) CEO Paul Raines Discusses Q4 2014 Results - Earnings Call Transcript (Seeking Alpha)
Related WMT
Wal-Mart Lawsuit About More Than Just Gun Control
10 Questions Wal-Mart Investors Should Ask On April 1
The Vetr community has downgraded $WMT to 2.5-Stars (Vetr)

Amid news that Wal-Mart (NYSE: WMT) will begin offering store credit in exchange for used video games, SunTrust released a note in which analyst David Magee maintained his buy rating on GameStop (NYSE: GME) with a $60 price target.

In his note, Magee wrote that he does not think this move by Wal-Mart will threaten GameStop unless they were to become "particularly aggressive" with both pricing and advertising. Furthermore, Magee pointed to GameStops "more efficient" distribution channels, as a reason for Wal-Mart to possibly sell collected trade-in games to GameStop.

In reaction to the news of Wal-Mart entering the used video game market, GamesStop was trading down as much as six percent. Since the release of the SunTrust note, GameStop shares have rebounded slightly.

At last check, GameStop was trading down 3.5 percent at $38.36.

Latest Ratings for GME

DateFirmActionFromTo
Jan 2015Pacific CrestUpgradesUnderperformOutperform
Jan 2015Credit SuisseMaintainsNeutral
Nov 2014Bank of AmericaMaintainsBuy

View More Analyst Ratings for GME
View the Latest Analyst Ratings

Posted-In: Dave Magee SunTrustAnalyst Color News Price Target Analyst Ratings

 

Related Articles (GME + WMT)

Around the Web, We're Loving...