Take-Two (TTWO) Share Price Target Lowered Following Game Delays

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Sam Boughedda
Updated: 17 Sep 2021

Video game firm Take-Two Interactive shares are down premarket on Friday after its shares were downgraded by BMO Capital.

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BMO Capital analyst, Gerrick Johnson, downgraded the stock saying he was less confident on his previous prediction following a series of game release delays. 

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Last week, the company's wholly-owned label, Rockstar Games, announced the expanded and enhanced versions of its “Grand Theft Auto V” and “Grand Theft Auto Online” games for PlayStation 5 and Xbox Series X|S, which had been planned for release on November 11, are now scheduled to launch in March 2022 to allow additional time to further polish the final products.

However, Take-Two said it was sticking with its financial forecast for the year with demand “driven by continued strong engagement trends in its existing games.”

However, the disruptions were labelled a “disconcerting trend” by Johnson, and he expects the company's valuation to stay under pressure, especially after new Chinese gaming regulations.

Johnson downgraded Take-Two Interactive's price target to Market Perform from Outperform, lowering the price target to $150 from $225.

On Tuesday, Ascendiant analyst Edward Woo lowered the price target on Take-Two Interactive Software to $198 from $216, keeping a Buy rating on the shares.

So far, premarket on Friday, Take-Two's share price is down 1.38% at $149.80, adding to its year-to-date losses of 26.9%. 

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