2020-05-26 04:48:08 | Take-Two upgraded to Outperform from Market Perform at BMO CapitalBMO Capital analyst Gerrick Johnson upgraded Take-Two Interactive to Outperform from Market Perform with a price target of $170, up from $120. The stock closed Friday up $2.32 to $140.51. Stay at home tailwinds should persist for the video game industry, which is defensive in times of economic uncertainty, Johnson tells investors in a research note. Further, Take-Two's performance in Q4 illustrates the strength of its core franchises during this time of uncertainty, adds the analyst. Johnson is encouraged by the company's "strategy to seize opportunities" in new platforms, distribution models, and game genres, which he believes should provide more "stable, growing earnings and cash flow over time." | |
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