Wedbush Reiterates GME's Outperform Rating

Wedbush has issued a report maintaining Gamestop's GME Outperform rating. According to Wedbush, "Maintaining our OUTPERFORM rating and our 12-month price target of $26, which reflects a multiple of 8.5x our FY:11 EPS estimate of $3.02. Our multiple is below the company's historical average, reflecting increasing competition and the likelihood of market share losses from digital downloads." GME has a Price Target of $26.00. GME closed yesterday at $21.82 a share.