JPMorgan reiterated its “Overweight” rating on Take-Two Interactive (NASDAQ: TTWO) and maintained its TTWO stock price target at $310, citing strong expectations for the upcoming launch of Grand Theft Auto 6 (GTA 6).
The investment bank also noted that Take-Two reaffirmed its fiscal 2027 net bookings guidance of $8 billion to $8.2 billion, implying annual growth of 19% to 22%. The outlook is also supported by unprecedented GTA 6 pre-orders.
JPMorgan estimates that the guidance assumes sales of approximately 34 million GTA 6 copies, broadly in line with the 33 million copies sold by GTA V in its first fiscal year.
The GTA 6 launch and other games will drive TTWO stock price
Meanwhile, NBA 2K27 delivered its second-highest net bookings ever, but fell short of management’s expectations. Take-Two attributed the miss to competition from other entertainment events, including GTA 6. However, bookings and player engagement are expected to accelerate.
JPMorgan also maintained its expectations for Zynga, which it expects to contribute approximately 34% of Take-Two’s fiscal 2027 net bookings. The mobile gaming studio continues to focus on improving its existing portfolio and launching new titles, including Top Goal, which remains in soft launch.
Following its assessment, JPMorgan raised its fiscal 2027 net bookings estimate by 1% to $8.3 billion, reflecting expectations for strong GTA 6 preload activity. Its December 2027 price target of $310 is based on a valuation multiple of approximately 29 times projected fiscal 2028 adjusted earnings per share of $10.59.
Wall Street firms set Take-Two stock price targets
Other Wall Street firms have also maintained bullish views on Take-Two. Oppenheimer, for example, reiterated its “Outperform” rating and $280 price target, noting that Grand Theft Auto 6 outperformed expectations.
BTIG likewise maintained a “Buy” rating and a $262 target, while Bank of America (BofA) Securities reiterated its “Buy” rating and $330 target, also highlighting strong GTA 6 pre-sales.
Jefferies also maintained a “Buy” rating and a $300 price target, despite identifying a $20 million bookings shortfall, primarily attributed to weaker NBA 2K performance and declining mobile bookings.
Featured image via Shutterstock
Source: finbold.com. Adapted by NBTC.
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