Piper Jaffray is out with its report today on Take-Two Interactive TTWO, lowering its PT to $12 from $17.
In its report, Piper Jaffray writes, "We are reducing our PT from $17 to $12 on modestly lower estimates, while using a 9.7x multiple which represents a modest discount to our 10% long-term earnings growth forecast. We remain Neutral given the lack of visibility on GTA V timing and the risk to back-end loaded FY12 estimates."
Shares of TTWO closed Monday at $11.07.
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Posted In: Analyst ColorPrice TargetAnalyst RatingsHome Entertainment SoftwareInformation TechnologyPiper Jaffray
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