Bank of America Reiterates Buy Rating, $62 PT on GameStop Corp. Following 2013 Expo

In a report published Friday, Bank of America analyst Curtis Nagle reiterated a Buy rating and $62.00 price target on GameStop Corp. GME. In the report, Bank of America noted, “We attended GameStop's 2013 Expo held in Las Vegas, Nevada. ~5,000 GME store managers and over 4,000 gamers were present. The event showcased the latest gaming hardware, software, accessories and most importantly, playable Xbox One and PS4 consoles. Overall, we thought enthusiasm for the next gen consoles was very high and our view that the console cycle will be successful was reinforced. Overall, we were impressed with the content presented at the Expo. We noted strong enthusiasm for leading established franchises such as Call of Duty, Battlefield, Forza, DriveClub and Assassins Creed, among others. More importantly, new franchise titles including Titanfall, Ryse, Destiny and Watchdogs were all very well received.” GameStop Corp. closed on Thursday at $49.90.