In a note out Friday morning, analyst Justin Post of Bank of America raised his price target on Take-Two Interactive Software, Inc. (NASDAQ: TTWO) from $28 to $32, believing the shares deserve a higher multiple more in-ine with the competition.
In the note, Post states:
"With estimate upside potential and a healthy cash position, we think Take-Two warrants a multiple closer to its peers EA and ATVI than in the past, and we are raising our PO to $32 from $28 based on 15x (up from 13x) our new FY16 EPS of $1.66 plus ~$7.00 in cash. Risk is that we have limited visibility on next-year's title slate, and without a strong Rockstar title, earnings could be down y/y."
Shares of Take-Two closed Thursday at $27.07, implying 18 percent upside to the new $32 price target.
Latest Ratings for TTWO
| Dec 2014 | Bank of America | Maintains | Buy | |
| Oct 2014 | Brean Capital | Upgrades | Hold | Buy |
| Oct 2014 | Jefferies | Maintains | Hold |
View More Analyst Ratings for TTWO
View the Latest Analyst Ratings
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