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TTWO

Take-Two

$118.37

0.88 (0.75%)

12:43
07/17/19
07/17
12:43
07/17/19
12:43

Stephens, Cowen up Take-Two price targets ahead of Q1 results

Take-Two (TTWO) shares edged higher after two analysts raised their price targets on the stock, with both describing upbeat expectations for the upcoming title "Borderlands 3." Both notes come before the game maker's first quarter earnings results, which are set to be announced after the market close on August 5. STEPHENS UPS PRICE TARGET TO $140: In a research note to investors, Stephens analyst Jeff Cohen maintained an Overweight rating on Take-Two and raised his price target on the shares to $140 from $120. The analyst said his firm was unveiling its initial FY21 bookings and adjusted earnings per share estimates of $2.74B and $5.02, compared to consensus estimates of $2.72B and $4.68, respectively, noting that the firm does not have much visibility into the company's fiscal 2021 slate. Cohen said he is not anticipating a Rockstar title and is just modeling one unannounced AAA title from the game maker's 2K label. The analyst, noted, however, that "Borderlands" had a "very strong showing" at E3 and that he believes player engagement with "Borderlands 2" on Steam is a strong indicator of demand for the upcoming "Borderlands 3." Cohen believes buy side expectations for year one sales of "Borderlands 3" have crept up since E3, adding that the most bullish investors he has spoken to are now expecting about 12M-15M units sold. The analyst also said that Take-Two cutting the price of the most recent "NBA 2K" title to $3 during the month of June brought a lot of new players into the funnel which, coupled with an eventful NBA off-season, should be positive for sales of "NBA 2K20." COWEN UPS PRICE TARGET TO $126: Additionally, Cowen analyst Doug Creutz raised his price target for Take-Two to $126 from $113, saying "everything looks very positive" for the upcoming "Borderlands 3," which launches on September 13. Creutz said his firm currently has 9M unit sales of the game modeled for the fiscal year, but is feeling "increasingly good" about a result of over 10M units. Each additional 1M units is worth near 20.c per share in EPS, so at 12M-13M units, the analyst believes the company could do north of $5.00 EPS for the fiscal year, assuming "everything else is on track." Creutz maintained an Outperform rating on the stock. PRICE ACTION: In afternoon trading, shares of Take-Two are up about 0.8% to $118.13.

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TTWO Take-Two
$118.37

0.88 (0.75%)

07/09/19
BNCH
07/09/19
NO CHANGE
BNCH
Alibaba, Take-Two among Benchmark's Best Ideas for second half
Benchmark's analyst team laid out their Best Ideas for the second half of 2019, naming Alibaba (BABA), Take-Two (TTWO), BioTelemetry (BEAT), Biofrontera (BFRA), Chembio Diagnostics (CEMI), Ctrip (CTRP), Green Thumb Industries (GTBIF), II-VI (IIVI), LivePerson (LPSN), Nanometrics (NANO), Nexstar (NXST), Pegasystems (PEGA), Tabula Rasa HealthCare (TRHC) and Waitr Holdings (WTRH) to their list.
07/11/19
JEFF
07/11/19
DOWNGRADE
Target $115
JEFF
Hold
Take-Two assumed with a Hold from Buy at Jefferies
Jefferies analyst Alex Giaimo downgraded Take-Two Interactive Software to Hold from Buy after assuming of the name. The analyst lowered his price target for the shares to $115 from $135. The company is now in a "soft spot" when considering the timing of its next major release, Giaimo tells investors in a research note. Further, the company faces tough comps in fiscal 2020, adds the analyst.
07/16/19
PIPR
07/16/19
NO CHANGE
PIPR
Overweight
Piper video game viewing data most favorable for Activision Blizzard
Piper Jaffray analyst Michael Olson says his firm's Q2 "TwitchAdviser," an analysis of video game viewing data, is most favorable for Activision Blizzard (ATVI), with additional positive takeaways for Take-Two Interactive (TTWO). Activision viewership is up 15% quarter-over-quarter, versus the analyst's estimate for a 3% digital revenue decline, excluding King, Olson tells investors in a research note. Take-Two viewing increased 149% quarter-over-quarter versus Olson's estimate for a 26% decline in recurrent revenue. That much of an uptick in viewership is unlikely to result in a recurrent revenue increase of similar magnitude, given much of the viewing for Grand Theft Auto s driven by un-monetized modding, the analyst tells investors in a research note. Further, for the second consecutive quarter, Electronic Arts' (EA) Apex Legends was among the top movers, but this time on a downward trajectory, adds Olson. He maintains Overweight ratings on all three names.
07/17/19
COWN
07/17/19
NO CHANGE
Target $126
COWN
Outperform
Take-Two price target raised to $126 from $113 at Cowen
Cowen analyst Doug Creutz raised his price target on Take-Two to $126 from $123 ahead of Q1 results. The analyst expects a relatively quiet quarter with very low risk of an earning miss given the quarter will be largely driven by fairly predictable recurring digital revenue. Creutz reiterated his Outperform rating on Take-Two shares.

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