BUZZ-B Riley initiates coverage of Take-Two Interactive with 'buy' on GTA VI optimism

Reuters12-10
BUZZ-B Riley initiates coverage of Take-Two Interactive with 'buy' on GTA VI optimism

** Brokerage B Riley initiates coverage of videogame publisher Take-Two Interactive TTWO.O with "buy" and PT of $300, implying a premium of ~21% to TTWO's last close

** Stance is centered around the planned November 2026 debut for Grand Theft Auto VI (GTA VI), which might be the largest entertainment launch in history, serving as an event-driven catalyst for stock - B Riley

** Brokerage views TTWO's FY27 - FY28 front line schedule to be satisfactory, with greater enthusiasm for annual NBA 2K launches, new IP such as "Judas," and select mobile titles

** B Riley forecasts FY27 and FY28 non-GAAP EPS of $7.55 and $9.50, respectively; believes if accurate, these would eclipse FY21 peak of $6.94

** TTWO marginally down in early trading

** 26 of 30 analysts covering the stock recommend a rating of "buy" or higher, while others recommend "hold"; stock has a median PT of $280 - LSEG-compiled data

** Up to last close, TTWO had gained ~35% YTD

(Reporting by Arnav Mishra in Bengaluru)

((Arnav.Mishra@thomsonreuters.com;))

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