Analyst Sees Plenty of Upside for Take-Two Interactive Stock

Call traders appear to be jumping on the bullish bandwagon

Deputy Editor
Oct 6, 2022 at 10:15 AM
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Video game stock Take-Two Interactive Inc (NASDAQ:TTWO) is up 3.6% at $121.62 at last glance, after an upgrade from Goldman Sachs to "buy" from "neutral," with a price-target hike to $165 from $131. Though the firm sees near-term hurdles for the stock, these headwinds are being "increasingly priced in," and once they're surpassed there is a large amount of upside potential. 

Today's pop has TTWO back above a familiar line of support at the $120 level, though the 140-day moving average -- which rejected the stock's mid-August rally -- still lingers overhead. Year-to-date, the equity is down roughly 32%. 

Of the 29 analysts in coverage, 21 now carry a "buy" or better rating on Take-Two stock, with eight recommending a tepid "hold." Plus, the 12-month consensus price target of $162.30 is a 33% premium to current levels. 

Call traders seem to be in agreement with Goldman Sachs today, with call volume running at four times the intraday average. So far, 2,343 calls have crossed the tape in comparison to 217 puts. The October 130 call is the most active, while new positions are being bought to open at the weekly 10/7 122-strike call. 

 

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