5 Stocks That Rebounded This Week

1. Take-Two Interactive Software, Inc. (NASDAQ:TTWO)

Number of Hedge Fund Holders: 66

Shares of Take-Two Interactive Software, Inc. (NASDAQ:TTWO) rose nearly nine percent this week. The surge was partly driven by a recent upgrade from Goldman Sachs. The research firm improved its ratings for the video game publisher from “Neutral” to “Buy.”

Analyst Eric Sheridan believes short-term headwinds have been mirrored in the company’s shares. Sheridan also expects more normalized growth trends in the gaming industry from next year. He lifted his price target for Take-Two Interactive Software, Inc. (NASDAQ:TTWO) from $131 per share to $165 per share.

Meanwhile, Take-Two Interactive Software, Inc. (NASDAQ:TTWO) also appeared in the second-quarter 2022 investor letter of investment management firm Madison Asset Management, LLC. Here’s what the firm said:

“Take-Two Interactive Software, Inc. (NASDAQ:TTWO) is a leading publisher of video games. Take-Two has a reputation for the high quality of its games, having published industry favorites such as Grand Theft Auto and NBA2K.

The video game industry itself has shed much of its boom-and-bust patterns to become a steadier, more predictable business with high barriers to entry, established title franchises, and high levels of recurring, in-game revenue streams. The company has been investing heavily to step up the number of new title launches over the next few years, a favorable set-up which we believe is not fully reflected in its stock price.”

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