Market Overview

GameStop Shares Off Session Lows As SunTrust Defends

Related GME
Bank Of America Comments On Hardlines Sector
Top 4 Stocks In The Electronics Stores Industry With The Highest ROA
Making Money With Charles Payne: 10/07/14 (Fox Business)
Related WMT
5 Stocks To Watch Ahead Of Halloween
Wal-Mart's Lowered Guidance: A Preview Of Weak Retail Earnings?
Stop Studying, Clean up the Ocean (Fox Business)

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
Oct 2014Hilliard LyonsUpgradesUnderperformNeutral
Apr 2014Bank of AmericaUpgradesNeutralBuy
Feb 2014Longbow ResearchDowngradesNeutralUnderperform

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...

Get Benzinga's Newsletters