BMO Capital analyst Gerrick Johnson raised his price target on Take-Two to $95 after its above-consensus Q4 earnings, saying that while net bookings missed expectations, lower-than-expected internal royalties drove the bottom-line beat. The analyst notes that the company's core titles like NBA 2K and GTA Online have shown continued strength, but also views the performance of Red Dead Redemption 2 as disappointing. Johnson also keeps his Underperform rating on the stock, warning that monetization of Red Dead Redemption could fall below current expectations with added concern about the potential changes in the video game industry driving lower valuation multiples.