Baird analyst Colin Sebastian said recently attended investor meetings with Take-Two's management and events coinciding with the annual Game Developers Conference. In a research note to investors, Sebastian said significant attention is being paid to the "meteoric" rise of the Fortnite video game, which he says is adding a new level of competition in the console game market, and he sees "multiple growth vectors" benefiting the overall industry. For Take-Two specifically, he believes the company is "well-positioned" for strong earnings and revenue growth in fiscal 2019, though it will likely be second-half weighted with the releases of Red Dead Redemption and 2K franchise sequels. Sebastian has an Outperform rating and $137 price target on shares.
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