- Benchmark analyst Mike Hickey maintained Take-Two Interactive Software, Inc TTWO with a Buy and lowered the price target from $139 to $125.
- TTWO will release 3Q FY23 results on February 6.
- Hickey balanced execution risk favorably for the quarter, which should benefit from continued sales of NBA 2K23 and Live Service net bookings from Grand Theft Auto Online and NBA 2K over a rationalized guidance view subsequent 2Q23.
- The analyst was cautious about a consumer pinch from macroeconomic pressure that may have extended from mobile and Live Service to casual and premium games.
- Negative FX trends have moderated, with the EURO gaining 11% versus USD in the quarter.
- Hickey reduced his FY24-FY25 growth estimates due to limited visibility on new game launches anticipated to drive growth and more modest expectations from mobile, Live Services, casual, and premium game launches.
- Price Action: TTWO shares traded lower by 0.55% at $103.96 on the last check Wednesday.
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