UBS upgraded Take-Two (TTWO) to Buy from Neutral with a price target of $230, up from $175. With increased conviction in Grand Theft Auto VI demand and a “robust” lineup of other titles, the firm expects Take-Two’s bookings, profits and free cash flow to inflect over the next two years, lowering its leverage and freeing capital for accretive investments. It forecasts $8B of bookings annually and adjusted earnings per share of $7 in fiscal 2026 and $9 in 2027. The views are supported by UBS Evidence Lab’s recent global gaming survey, which pointed to significant purchase intent and pricing power for GTA VI, the analyst tells investors in a research note.
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