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Fly News Breaks for January 12, 2016
GME
Jan 12, 2016 | 11:01 EDT
Baird analyst Colin Sebastian said GameStop's holiday results were better than feared, but notes that "some investors were clearly still caught by surprise" by the software declines it reported given the drop of over 5% in shares this morning. Though software declines will continue to weigh as questions remain on game buyers' shift to digital, the analyst expects Gamestop's momentum to improve as prior generation games become a smaller part of the sales mix. Sebastian keeps an Outperform rating and $46 price target on GameStop.
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