Baird analyst Colin Sebastian raised his price target for GameStop to $18 from $14 saying this morning's holiday results reflect non-physical gaming strength. Same-store-sales growth came in better than anticipated as strength in Accessories/Collectibles offset softness in new software and pre-owned, Sebastian tells investors in a research note. The analyst adds that while he anticipated slightly better new software performance given Red Dead momentum, he's encouraged by the offset from non-physical game categories. Sebastian thinks investor focus will now shift to the potential outcomes of the company's ongoing strategic review and he keeps an Outperform rating on GameStop. The stock in early trading is up 24c to $16.01.