BMO Capital Downgrades Take-Two Interactive Software - Read Why - Take-Two Interactive (NASDAQ:TTWO)

BMO Capital analyst Gerrick Johnson downgraded Take-Two Interactive Software Inc TTWO to Market Perform from Outperform with a price target of $150, down from $225, implying a downside of 1.24%.
Johnson is less confident in his previously high on the Street earnings estimates after a series of video game release delays, which he calls a "disconcerting trend."
Johnson expects Take-Two's valuation multiple to remain under pressure, owning to "exogenous events" like new Chinese gaming regulations and closer scrutiny of video games companies, including content in Grand Theft Auto.
Further, the scrutiny comes amid a heightened environmental, social, and governance focus among institutional investors.
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Price Action: TTWO shares traded lower by 1.24% at $150.00 in the premarket session on the last check Friday.