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Fly News Breaks for June 1, 2018
GME
Jun 1, 2018 | 07:33 EDT
Baird analyst Colin Sebastian lowered his price target on GameStop to $14 from $18 following Q1 results. The analyst said the results were inline but were highlighted by continued strength in collectibles partially offset by anticipated weakness in new hardware, new software, pre-owned declines, and ongoing Tech Brands weakness. He said the current valuation is reflecting anticipated downside risk in the second half of the year. Sebastian maintained his Outperform rating and lowered his price target to $14 from $18 on GameStop shares.
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