Take-Two: Wedbush cuts target price

(CercleFinance.com) - Wedbush maintains its "outperform" rating on Take-Two Interactive shares, although has lowered its target price for them from 180 dollars to 145 dollars, "to reflect the recent contraction in multiples for tech in general and video game publishers specifically.


Noting that the company reported results that are pretty much in line with the consensus for Q4 2021-22, the broker has reduced its guidance for FY 2022-23 EPS to 4.45 dollars, from 6.95 dollars.

"We foresee no regulatory obstacles to the combination of Take-Two and Zynga, which has the potential to create a gaming powerhouse with significant scale in the console, PC, and mobile marketplaces," it says.



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