BMO Capital analyst Gerrick Johnson upgraded Take-Two Interactive to Market Perform from Underperform and raised his price target for the shares to $110 from $95. With the threat of an economic downturn, video game stocks will be increasingly seen as "safe havens for investors," Johnson tells investors in a research note. As a result, he expects the sector to receive an elevation of valuation multiples. Further, Take-Two has a "robust pipeline and remains a perceived target for acquisition," adds the analyst.
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