Pachter: GTA IV won't sell more than 12 million units this year
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Wedbush Morgan's Michael Pachter has just issued a note saying he does not expect GTA IV to make it past 12 million units this, leaving Take-Two as an obvious target.
"Notwithstanding the strong sell-in of GTA, we do not expect the game to sell more than 12 million units this fiscal year," said the analyst. "We believe that Take-Two remains a takeover story rather than a fundamental one."
Pachter's maintaining a hold rating on the stock with a target of $26 based on the price of EA's proposed bid for the firm.