THQ shares bounce up as analyst says “buy”

By Patrick Garratt
13 October 2008 20:32 GMT

A positive City story in the mire, THQ’s having a good day on the NASDAQ after Piper analyst Anthony Gikas said the stock’s valuation “has become more attractive.”

The firm’s stock rose 47 cents, or 4.9 percent, to $10.08 in morning trading. THQ shares have lost 64 percent of their value so far this year.

“Although the product line is struggling, the company has an experienced management team that we believe will prevail over the longer term. As broad market conditions stabilize, we expect shares of THQ could rebound materially and in short order,” said Gikas.

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