Spotlight on Upcoming Game Releases for Take-Two and Electronic Arts: Analyst

Truist Securities analyst Matthew Thornton reiterated Take-Two Interactive Inc TTWO with a Buy and a $158 price target.

The analyst published his updated model post-TTWO's mixed Q1 print. 

His FY24 bookings and adjusted EPS go to $5.52 billion and $3.48 (from $5.65 billion and $3.97), FY25 to $8.0 billion and $7.73 (from $8.0 billion and $7.77), FY26 to $8.4 billion and $8.63 (from $8.5 billion and $8.89). 

Also Read: How In-game Purchases and Subscriptions are Shaping the $60B Gaming Industry: Report

The analyst looks forward to focal points, including the NBA 2K24 launch, mobile stabilization, and pipeline unveils (GTA, 31st Union, BioShock, and others). 

Thornton maintained Electronic Arts Inc EA with a Buy and lowered the price target from $150 to $140.

The analyst also published an updated model post-EA's mixed Q1. Thornton's FY24 bookings and adjusted EPS go to $7.50 billion and $6.86 (from $7.61 billion and $7.03), FY25 to $7.75 billion and $7.41 (from $7.81 billion and $7.57). 

Focal points the analyst is looking forward included FC 24 launch/transition) Apex stabilization, Madden 24 launch, and FY25 slate insights/unveils.

Price Action: TTWO shares traded higher by 1.03% at $140.94 on the last check Wednesday.