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Benzinga
Benzinga
Business
Anusuya Lahiri

Benchmark Remains Bullish On Take-Two Interactive Software, Thanks To Sony and Microsoft

TTWO Microsoft Corp NYSE Rockstar Games Sony Group Corp
  • Benchmark analyst Mike Hickey reiterated a Buy rating and $200 price target (29.1% upside) on Take-Two Interactive Software Inc (NASDAQ:TTWO).
  • The re-rating came after he confirmed software pricing with the company for the upcoming "Grand Theft Auto V" and "GTA Online" releases for Sony Group Corp (NYSE:SONY) PlayStation 5 and Microsoft Corp (NASDAQ:MSFT) Xbox Series X/S. 
  • Hickey said the games would have a promotion launch window and post-launch window with different price points and SKUs, with the post-promotion launch window having the combined games at $40, compared to his original $60 expectation. 
  • The analyst believes Rockstar Games has settled on a lower price point to surface a more value-oriented pricing schematic for the third generation console release and build a larger current-gen player audience.
  • Price Action: TTWO shares traded lower by 0.92% at $156.54 on the last check Tuesday.
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