Take 2 stock pushed by ‘6 million-selling’ GTA IV

Tuesday, 29 January 2008 15:09 GMT By Patrick Garratt

US analyst Eric Handler has upgraded Take 2 from “underweight” to “equal weight” on the news that GTA IV will hit on April 29, and has raised his price target for the stock to $19, up $2. Shares in the company rose 3.2 percent in pre-market trading today, up 50 cents from Monday’s closing price of $15.75.

Handler said the release date announcement was a “major plus” for the company and predicted sales of over 6 million units in the first six months, equatable to $1.25 per share profit.

“The recent successes of ‘Bioshock’ and ‘Carnival Games’ demonstrate Take-Two is beginning to see improving results from its studios other than Rock Star,” he said.