Brian Sozzi Raises Price Target On Take-Two (TTWO)

Brian Sozzi of Wall Street Strategies raised his price target on shares of Take-Two Interactive Software, Inc. TTWO to $14 from $13. Sozzi has a Buy rating on shares. In the research report, Sozzi writes, "We are reiterating our Buy recommendation on Take-Two Interactive (TTWO). The company is putting to bed the long held viewpoint that it's unable to make money in a non Grand Theft Auto release year. In the recently announced quarter, Take-Two delivered $0.36 per share of EPS surprise relative to consensus, owing to strong sales of NBA 2K11 and downloadable content for Red Dead Redemption (which has sold a strong 8 million units since its May 2010 launch). We do acknowledge some uncertainty regarding Take-Two's six month release plans, dotted with unproven franchises. However, we believe the risk reward profile of the stock remains favorable given momentum in catalog sales and a healthy balance sheet." Shares of TTWO are currently off 2 cents to $12.35.