Wedbush Morgan has predicted Take Two stock will bounce back in no time from a Duke Nukem Forever related dip.
“Take-Two’s share price has stalled due to numerous game delays and disappointing reviews of Duke Nukem Forever, but we expect Take-Two’s commitment to high quality games to translate into consistent profits and share price appreciation,” the analyst firm said in note to investors, as reported by Gamasutra.
“Of the major publishers, Take-Two has had the fewest ‘misses’ in terms of game quality over the last two years, and as a result, delivered a profitable FY:11 without a Grand Theft Auto release.”
The recently announced delay to The Darkness II won’t have much impact on performance, Wedbush said. The firm predicted Take Two’s shares will reach a $20 price point in the next year, up from $14.16. Shares dipped as low as $7.98 over the last twelve months of trading.
Earlier this month, Wedbush lowered its estimates of Take Two’s quarterly revenue following Duke Nukem Forever’s poor critical performance.
Prominent Wedbush analyst Michael Pachter has made no bones of his love for Rockstar and 2K parent company Take Two. We expect an invite to the wedding.