Sterne Agee Reiterates Buy, $30 Target on GameStop

In a company report, Sterne Agee maintains its Buy rating and $30 target price on GameStop Corp. GME as November trends bode well for the remaining holiday period. Sterne Agee says, “We believe several factors could drive the stock higher in the near term including: 1) potentially good holiday results; 2) a soon to be debt-free balance sheet; 3) stock buybacks; 4) a positive outlook for 2012, which includes the launch of PS Vita and Nintendo Wii U, etc.” GME closed at $22.72 per share on Tuesday.