BOAML Raises Price Target for Take Two Interactive

Loading...
Loading...
In a Price Objective Change note out this morning, analyst Justin Post of Bank of America Merrill Lynch up his price target on Take Two Interactive
TTWO
from $28 to $32, believing the shares deserve a higher multiple more in line with the competition. In the note, Mr. Post states: "With estimate upside potential and a healthy cash position, we think Take-Two warrants a multiple closer to its peers EA and ATVI than in the past, and we are raising our PO to $32 from $28 based on 15x (up from 13x) our new FY16 EPS of $1.66 plus ~$7.00 in cash. Risk is that we have limited visibility on next-year's title slate, and without a strong Rockstar title, earnings could be down y/y." Shares of TTWO closed at 27.07, implying 18 percent upside to the new $32 price target from current levels.
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorNewsTop StoriesMarketsAnalyst Ratings
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...