Take-Two upgraded to Outperform from Market Perform at Raymond James

Raymond James upgraded Take-Two Interactive Software to Outperform from Market Perform with a $170 price target. Following a “relatively slower period” in front-line releases, the firm sees a number of reasons to become incrementally more optimistic in the company’s near- and medium-term path forward. These include release information and trailers on Grand Theft Auto 6 soon, which should take away the most prominent point of uncertainty around Take-Two’s financial trajectory, the analyst tells investors in a research note. Raymond James is also gaining increased confidence in the shape of the ex-Rockstar portfolio, and a path to more consistent and sustainable releases.