Take-Two price target trimmed by Wedbush as GTA VI earnings forecast lowered
Wedbush cut Take-Two's (TTWO) price target to $280 from $300, lowering its FY2029 EPS forecast to $9.98 from $11.19. The broker expects Q3 guidance to be key when results are released on November 9. Wedbush projects Q2 net bookings of $1.67B, above consensus, and GTA VI launch quarter bookings of $3.437B, with annual bookings reaching $8.605B, above company guidance.
How this was made
The 30-second read
Why it matters
The price‑target reduction signals a bearish short‑term outlook, but the firm still expects strong bookings from the upcoming GTA VI launch.
Market read
Analyst target cuts are actionable for traders looking to adjust positions ahead of the upcoming earnings release and GTA VI launch.
What to watch
Potential upside from post‑launch online revenue and 2K slate not fully priced in.
Background
Wedbush maintains an outperform rating but adjusts its valuation metrics for Take‑Two based on revised earnings forecasts.
Ticker impact
Wedbush cut Take-Two Interactive's price target to $280 and lowered its FY2029 EPS estimate to $9.98 from $11.19.
likely pressure as the market prices in the lower earnings outlook and reduced target.
Target cut and EPS downgrade directly affect valuation expectations.
Market effects
The downgrade may weigh on the broader video‑game sector as peers are compared to Take‑Two's outlook.
U.S. equities could see modest pullback in consumer discretionary stocks.
Limited to markets tracking U.S. tech and entertainment stocks.
Counterpoint
If Rockstar's launch exceeds expectations, the target cut could be premature.
Key entities
- CompanyTake‑Two Interactive Software Inc.
Developer of Rockstar and 2K games, ticker TTWO.
- AnalystWedbush Securities
Equity research firm providing the target and earnings revisions.
