NewsFeeder
06-05-2018, 07:30 AM
Take-Two stock falls after BMO downgrades on concerns that Red Dead Redemption 2 could fall short of 'lofty expectations'
Shares of Take-Two Interactive Software Inc. are down 1.7% in premarket trading Tuesday after BMO Capital Markets analyst Gerrick Johnson downgraded the stock to market perform from outperform. "Simply put, Red Dead Redemption 2 expectations are high, with Street consensus for FY2019 unit sales looking to be between 15 million and 18 million, with an expectation for 25 million units sold in the first 12 months at retail," he wrote, while some investors are expecting even more. "We expect a solid performance (15 million in FY2019, 17.5 million in the first 12 months) but are concerned about the risk of underperforming lofty expectations." He also said that there's a chance the new Red Dead Redemption Game could lower engagement for Grand Theft Auto, another Take-Two title made by producer Rockstar.
https://finance.yahoo.com/m/e1c3b148-e7c8-3de4-9d2c-5077a8112c2a/take-two-stock-falls-after.html?.tsrc=rss
Shares of Take-Two Interactive Software Inc. are down 1.7% in premarket trading Tuesday after BMO Capital Markets analyst Gerrick Johnson downgraded the stock to market perform from outperform. "Simply put, Red Dead Redemption 2 expectations are high, with Street consensus for FY2019 unit sales looking to be between 15 million and 18 million, with an expectation for 25 million units sold in the first 12 months at retail," he wrote, while some investors are expecting even more. "We expect a solid performance (15 million in FY2019, 17.5 million in the first 12 months) but are concerned about the risk of underperforming lofty expectations." He also said that there's a chance the new Red Dead Redemption Game could lower engagement for Grand Theft Auto, another Take-Two title made by producer Rockstar.
https://finance.yahoo.com/m/e1c3b148-e7c8-3de4-9d2c-5077a8112c2a/take-two-stock-falls-after.html?.tsrc=rss