Wells Fargo Raises Take-Two Target to $301, BMO to $280; Cramer Endorses Buy
Take-Two Interactive’s shares have fallen 24% year-to-date, yet Wells Fargo raised its price target to $301 from $288 and BMO Capital bumped its target to $280 from $275 following strong third-quarter performance. Jim Cramer reaffirmed the stock as a buy ahead of November’s Grand Theft Auto release.
1. Analyst Price Target Increases
Wells Fargo raised its price target on Take-Two Interactive to $301 from $288 and maintained an Overweight rating after the developer posted strong third-quarter bookings and operating income. BMO Capital also raised its target to $280 from $275, citing solid execution across mobile, NBA and other platforms and readiness to implement AI enhancements.
2. Declining Share Performance
Take-Two’s shares are down 9% over the past year and have lost 24% year-to-date, reflecting investor concern over competition from new AI-driven products and general market volatility in the gaming sector.
3. Cramer’s Endorsement
Jim Cramer reiterated that Take-Two is a buy ahead of November’s launch of the next Grand Theft Auto installment, defending the franchise’s resilience and dismissing notions that AI entrants will erode its market dominance.