Buckingham analyst Scott Krasik initiated Take-Two with a Buy and a $120 price target telling investors it is in the early innings of realizing economic benefits of digitization, which will drive sales growth and margin expansion. Krasik said FY18 will be a year when base earnings power is reset from annualized sports titles and recurring digital revenue, which investors should assign a higher multiple to Take-Two's "cycle average" earnings as confidence rises over time.
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