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All eyes are on Grand Theft Auto VI. Well, on the trailer, anyway, which is coming out next month.
Expectations around Take-Two Interactive Software’s (NASDAQ:TTWO) latest game are very high, according to Baird, after the video-game reported second-quarter results on Wednesday that topped profit expectations though it guided to the light side for the all-important holiday quarter.
The company disappointed Baird with its NBA 2K24, which was released in September, though monetization trends appear to be strong, analysts led by Colin Sebastian wrote in a note.
“According to management, NBA 2K24 delivered a solid launch, although we note that unit sales and review scores were a bit below expectations. In mobile, while the market remains challenging, Zynga appears to be showing improvement with new content releases, complimented [sic] by better engagement and monetization trends,” the analysts said.
“Based on likely improving visibility for growth and upcoming product catalysts, we are modestly increasing our valuation and price target to $160,” the analysts said.
Shares rose 1.8% on Thursday.
On Wednesday, Take-Two subsidiary Rockstar Games, the maker of Grand Theft Auto, confirmed that the first trailer for the next game in the series will be available in “early” December.