Analyst: Big Things Ahead for Take-Two Interactive Stock

Citigroup also hiked its price target on the stock

Deputy Editor
Nov 14, 2023 at 9:14 AM
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Video game concern Take-Two Interactive Inc (NASDAQ:TTWO) is up 2.6% before the bell, after Deutsche Bank upgraded the stock to "buy" from "hold" and raised its price target by $20 to $175. The analyst in coverage praised the company's risk-reward profile, citing a strong development pipeline, with 14 immersive titles in the works for 2025 and 2026.

In addition, Citigroup also raised its price objective on TTWO, adjusting up to $155 from $140. Coming into today, 18 of of 22 covering analysts rated the equity a "buy" or better, with the additional four recommending a tepid "hold."

The options pits have been more bullish than usual, per Take-Two Interactive stock's 50-day call/put volume ratio of 4.54 over at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX). This ratio sits in the 95th percentile of annual readings, indicating long calls are being picked up at a quicker-than-usual clip. 

On the charts, TTWO is set to open above its July 19 year-to-date high of $153.84. The equity experienced an early November, post-earnings bull gap that catapulted it above the $142 level, though the $152 mark cut yesterday's gains short. Over the last 12 months, Take-Two Interactive stock is up 46.8%.


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