Sterne Agee Reiterates Buy on GameStop (GME)

Sterne Agee is out with its report today on GameStop GME, reiterating Buy. In a note to clients, Sterne Agee writes, "We think management has recently made its strongest case yet for the company's future relevance. GME's strength in retail combined with the inroads it's making in digital sales should prove to be an effective strategy, at least in the foreseeable future. Meanwhile, strong free cash flows, share repurchases, and potentially a debt-free balance sheet by year end are factors that should provide downside protection to shares." Sterne Agee maintains a $30 PT on GME. Shares of GME closed Monday at $26.48, down 0.90% from Friday's close.