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

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

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.

Sometimes we include links to online retail stores. If you click on one and make a purchase we may receive a small commission. For more information, go here.