Selloff or Market Correction? Either Way, Here's What to Do NextSee Overvalued Stocks

Take-Two Takes a Hit as Wall Street Questions Content

Published 01/24/2020, 12:30 PM
Updated 01/24/2020, 12:31 PM
© Reuters.
TTWO
-

Investing.com - Videogame maker Take-Two (NASDAQ:TTWO) Interactive stumbled Friday after an analyst cut the stock down a notch.

Take-Two (NASDAQ:TTWO) fell 2.6% in midday trading.

MKM Partners analyst Eric Handler downgraded the stock to neutral from buy and cuts his price target to $133 per share from $142.

The company will likely experience below-average volume in sales during the new console cycle, Handler said.

While the company is very well run compared to its peers, valuation is difficult to justify, he added.

Shares of Take-Two (NASDAQ:TTWO) are up nearly 24% in the last 12 months.

The average price target for the stock is $135.26, according to a poll of 27 analysts compiled by Investing.com.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.