Deutsche Bank analysts upgraded Take-Two Interactive Software (NASDAQ:TTWO) to Buy from Hold on Tuesday, also lifting the share price target from $155 to $175. As a result, shares rose more than 3% intra-day today.
The analysts’ note explained the upgrade, citing enhanced long-term prospects and near-term driving factors for the stock. They emphasized the recent announcement by Take-Two that Rockstar Games would release the first trailer for the next “Grand Theft Auto” installment in early December.
The analysts believe that this significant product announcement, particularly the eagerly awaited GTA 6 trailer, will likely boost investor enthusiasm and act as a key driver for the stock’s performance.
Furthermore, they expect that as fiscal 2024 progresses into its second half and into 2025, Take-Two will begin announcing other major titles from its extensive development pipeline, which encompasses 14 core immersive games across 2025 and 2026.