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Benzinga
Benzinga
Business
Anusuya Lahiri

Here's Why Take-Two Interactive Software Shares Are Trading Higher Today

  • Take-Two Interactive Software Inc's (NASDAQ:TTWO) Rockstar Games said a new game in the Grand Theft Auto series is developing.
  • The studio also announced the release of Grand Theft Auto V on the newest consoles, the PlayStation 5 and Xbox Series X, for March 15.
  • Analyst Ratings: Jefferies analyst Andrew Uerkwitz reiterated a Buy rating and $231 price target (40% upside) on Take-Two after the announcement. 
  • Uerkwitz said investors should pick up near and long-term confidence from the announcement, adding that he continues to seek Take-Two as a franchise pick.
  • Benchmark analyst Mike Hickey reiterated a Buy rating and $200 price target (21.2% upside) on Take-Two Interactive post announcement. 
  • Hickey, who thinks the timing of this announcement before the company's earnings call on Monday is "not a coincidence" and will enable executives to discuss the game and potentially include updated financial guidance, believes the game will be released in FY24-FY25 and "should lead to explosive growth."
  • Price Action: TTWO shares traded higher by 5.45% at $171.90 on the last check Friday.
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