Take-Two (TTWO, $157.02) shares rating boosted at BMO
Take-Two Interactive shares climbed higher Wednesday, following a rating upgrade from analysts at BMO Capital Markets.
BMO analyst Gerrick Johnson boosted his rating on the video gaming company shares to 'outperform'. Johnson held his price target at $180 per share.
The analyst views the group's $12.7 billion acquisition of Zynga as a way to leverage its key video game properties, including Grand Theft Auto and NBA 2k, into the mobile sector.
The analysts noted that 5G network rollouts, cloud gaming and smartphone upgrades are likely to boost mobile gaming’s growth.
"The Covid pandemic has accelerated trends already in motion, including the transition to digital distribution offering higher margins and the opportunity for incremental add-on sales and multi-player online services," Johnson said. "We believe the social network aspect of video games has also come to the forefront for a lot of players." According to Johnson, Take-Two should view positively the opportunity to expand scale in the rapidly growing mobile games business. The analyst sees strong potential synergy opportunities, and also thinks that Take-Two is an attractive opportunity in terms of valuation.
TTWO in upward trend: price may ascend as a result of having broken its lower Bollinger Band on July 09, 2024
TTWO may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options. In of 33 cases where TTWO's price broke its lower Bollinger Band, its price rose further in the following month. The odds of a continued upward trend are .
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a developer of interactive entertainment software
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