Market Overview

MKM Downgrades Take-Two On Valuation

MKM Downgrades Take-Two On Valuation

It's not completely clear what might be coming this year and when from game makers Take-Two Interactive Software, Inc (NASDAQ: TTWO), MKM Partners said in a Friday note.

The Analyst

MKM's Eric Handler downgraded Take-Two from Buy to Neutral and lowered the target price from $142 to $133.

The Thesis 

"We like the company but shares lack visibility and valuation looks full," Handler wrote in a note.

Handler said he continues to view Take-Two as the "best-run publisher in the video games space," with a strong portfolio of games, but is increasingly unsure of the company's pipeline for 2021.

"We are becoming more and more convinced Take-Two's FY21 release slate will include a below-average number of non-annualized, AAA game releases, and, as a result, consensus estimates are too high," Handler said.

Price Action

Take-Two shares are down 2.61% to $125.70 at time of publication Friday.

Related Links

Content Spree Could Lift This Video Game ETF

UBS Likes Take-Two's Proven Track Record In Video Game Space


Photo by John Sting on Unsplash

Latest Ratings for TTWO

Feb 2020MaintainsBuy
Feb 2020MaintainsOutperform
Feb 2020MaintainsNeutral

View More Analyst Ratings for TTWO
View the Latest Analyst Ratings

Posted-In: Eric Handler MKM PartnersAnalyst Color Downgrades Price Target Analyst Ratings Tech General Best of Benzinga


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