FMP
Take-Two Interactive’s Price Target Cut Amid GTA VI Delay
May 20, 2024 1:00 PM - Davit Kirakosyan
Image credit: FMP
Baird analysts cut their price target for Take-Two Interactive (NASDAQ:TTWO) to $172 from $173 while keeping an Outperform rating on the stock.
The analysts noted that the delay of GTA VI to fiscal 2026 from 2025 was not unexpected by investors. Management's commentary suggests a high level of confidence in this new release window.
The analysts are optimistic about the anticipated return to bookings growth in fiscal 2025 and stable or improved operating margins as the company focuses on reducing overhead. Additionally, the increase in mobile bookings is a positive sign, though it is partly due to higher marketing expenditures.
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