2 Reasons For this TTWO Upgrade; Bulls Move In on Uber and Lyft Stocks

TTWO has been gaining momentum

Jun 4, 2019 at 10:27 AM
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Sifting through this morning's news cycle on Wall Street, a few names stick out. First off, Take-Two Interactive Software, Inc. (NASDAQ:TTWO) just received another positive analyst note, with BMO upgrading its rating to "market perform" from "underperform" and boosting its price target to $110 from $95. The covering analyst called out the video game company's impressive pipeline and said it remains a potential M&A target.

The upgrade follows an impressive May for TTWO shares, which continue to test their 200-day moving average. Looking more broadly, they're still far from their Oct. 1 high of $139.91, and their average analyst price target of $121.39, last seen trading at $106.36.

Meanwhile, the blackout period just ended on Uber Technologies Inc (NYSE:UBER), and most of the attention has been upbeat. While several "buy" endorsements have come through this morning, the most notable was from BTIG, since it came with an $80 price target -- by far the most ambitious we've seen. As for some of the other commentary, Deutsche Bank called UBER the most attractive internet play since Facebook (FB), and Morgan Stanley said it believes the stock should trade at a higher premium than LYFT Inc (NASDAQ:LYFT) given its larger reach.

On a more bearish note, Citigroup came in with a "neutral" rating and $45 price target because of regulatory concerns. Speaking of, Uber just said this morning the IRS is looking at its tax returns from previous years. The shares were last seen at $41.32, a day after traders were targeting short-term call options.

As for LYFT itself, it also received a few bull notes, and BTIG again was the most bullish, setting a "buy" rating and $77 price target. The shares are trading down 2.2% today at $58.25, holding a few points above the recently formed 20-day moving average, though of course they're far from their first-day high of $88.60.

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