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Fly News Breaks for August 20, 2019
GME
Aug 20, 2019 | 08:20 EDT
BofA/Merrill analyst Curtis Nagle lowered his price target on Underperform-rated GameStop to $2.50 from $4. In a research note to investors, Nagle says he sees risk to earnings due to a weak title slate for the year, continued deterioration in the highly profitable pre-owned segment, and a view that a turnaround plan will take time to take hold, if at all, given GameStop's rapid decline in EBIT.