Why Take-Two Interactive Stock Is Jumping Today

Take-Two Interactive (NASDAQ: TTWO) stock is moving higher Thursday amid bullish trading for the broader market. The company's share price was up 4.3% as of 1:40 p.m. In addition to the bullish stock market backdrop, Take-Two's valuation is being pushed higher by new analyst coverage today. The stock is now up 21% year to date despite substantial sell-offs for the broader market across the stretch. Before the market opened today, BMO Capital Markets published new coverage reiterating an outperform rating on Take-Two and a one-year price target of $240 per share on the stock. As of this writing, the target suggests upside of roughly 8%. While the target does not suggest huge near-term return potential, it looks more appealing given recent macroeconomic uncertainty and market volatility. BMO's analysts have stayed bullish on the stock thanks to a positive outlook on the company's upcoming video game lineup, most notably Grand Theft Auto VI (GTA VI). The firm also anticipates performance improvements for the company's mobile segment.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool