UPDATE: Sterne Agee Reiterates $30 PT and 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 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. Reiterating Buy and $30 target.” Shares of GameStop Corporation closed at $25.45 on Wednesday.