Baird analyst Colin Sebastian called GameStop's (GME) Q3 results a "mixed bag," but noted that management said November trends are improving. Sebastian, who cut his price target on GameStop to $46 from $54 but keeps an Outperform rating on shares, said holiday sales could mark a turning point either positively, if they show a rebound in physical game sales, or negatively, if they highlight an accelerating shift to digital sales. The analyst also noted GameStop's comments on Electronic Arts' (EA) "Star Wars Battlefront" falling short of expectations so far, but he thinks it is somewhat premature to extrapolate the commentary to a disappointing performance for the game this early in the going.

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