Take-Two Interactive Upgraded to Strong Buy with $285 Target, Saudi PIF Moves $3B Stake
Raymond James upgraded Take-Two Interactive to Strong Buy from Outperform with a $285 price target, calling the recent pullback overdone after AI-content and Project Genie concerns. Saudi Arabia’s Public Investment Fund moved 11 million shares (about $3 billion) to Savvy Games Group while keeping ultimate control.
1. Raymond James Upgrade and Price Target
Raymond James raised its rating on Take-Two Interactive from Outperform to Strong Buy and maintained a $285 price target after the stock’s recent pullback. The firm cited concerns over AI-driven content creation and Google’s Project Genie as overblown and noted the company’s robust fiscal third-quarter results support a favorable risk-reward profile.
2. Saudi PIF Share Transfer
Saudi Arabia’s Public Investment Fund shifted approximately 11 million Take-Two Interactive shares, valued near $3 billion, into Savvy Games Group, a fully owned PIF gaming subsidiary. This internal transfer leaves ultimate ownership unchanged while positioning Savvy Games Group to play a larger role in the global video game industry.