GameStop Shares Upgraded (GME)
Shares of GameStop Corp. (NYSE: GME) climbed sharply on Friday after the video game retailer’s stock was upgraded by both Janney Montgomery Scott and Oppenheimer.
In its research report released on Friday, analysts at Janney Montgomery Scott reaffirmed their “buy” rating on the stock. The firm currently maintains a price target of $50.00. Montgomery’s new price target sees a potential 33.23% uptick from current price.
Separately, analysts at Oppenheimer upgraded the stock to an “outperform” rating from “market perform” on Friday and raised the price target to $50 from $27. The firm said that the upcoming launch of PlayStation 4 and Xbox One would help pushing up both sales and earnings.
Earlier on Thursday, analysts at BB&T reaffirmed “buy” rating on the stock. The firm has a price target of $42.
A day before, analysts at TheStreet maintained a “buy” rating on the stock.
Overall, sixteen research analysts have assigned “buy”, one maintains “sell” while three keep “hold” rating on the stock. The average price target is $38.96.
The Company handed better-than-expected fiscal first quarter results on May 23. The Company reported earnings of 46 cents a share compared to 54 cents a share. Revenue was down 6.8% to $1.87 billion. Analysts’ consensus estimate was for earnings of 40 cents a share on revenue of $1.84 billion.
For the full fiscal year, the Grapevine, Texas-based company is expecting earnings to be in the range of $2.90 to $3.15 a share while analysts’ consensus estimate is for $3.13 a share.
More Posts by this author
- Stocks Tumble After Bernanke Comments
- Gold Prices fall to More Than 2-½ Year Low Level; Silver Prices Also Tumble
- Stocks Extend Losses
- Stocks Sharply Lower in Early Trading
- Forex Market Update: U.S. Dollar Trades Broadly Higher
- Gold and Silver Prices Crash
- Stock Futures Fall
 |
Post Written By: Ed Liston
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.
|
