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Fly News Breaks for March 5, 2019
GME
Mar 5, 2019 | 06:05 EDT
Loop Capital analyst Anthony Chukumba kept his Hold rating and $12 price target on GameStop, saying that while its new $300M stock buyback program and maintained dividend of 38c per share are "encouraging" in demonstrating the management's guidance in future prospects, they do not change his outlook materially. The analyst maintains that the company's "core video game business in continued secular decline" and that he continues to await "concrete signs of stabilization" in its financials.
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