JPM assumes Take-Two with 'overweight' on boost from planned GTA VI release
BUZZ-JPM assumes Take-Two with 'overweight' on boost from planned GTA VI release ** Shares of Take-Two Interactive Software TTWO.O edge up 0.6% at $255.00 premarket
** J.P.Morgan assumes TTWO with "overweight" rating and $310 PT, implying an upside of ~22% to the stock's last close
** The upcoming console release of GTA VI on Nov 19 is seen as a big opportunity and TTWO's FY27 net bookings outlook is "conservative" - brokerage
** JPM says it believes a "significant portion" of TTWO expenses relates to GTA VI, which will pressure near-term gross margins, with a trough likely in Q3
** "We are adding TTWO shares to the J.P. Morgan Analyst Focus List as a Growth Idea" - brokerage
** 31 of 33 brokerages rate the stock "buy" or higher, two "hold" and their median PT is $289.50 - data compiled by LSEG
** As of last close, stock down ~1% this year
(Reporting by Jaspreet Singh in Bengaluru)
((Jaspreet.Singh@thomsonreuters.com ; https://twitter.com/i_jass))
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