Phil Elliott
12:18 (BST)
11/12/2007
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Take-Two shares boosted by analyst recommendation
Price rose 6 per cent off the back of "outperform" recommendation
Shares in Take-Two rose by almost 6 per cent on Monday following an analyst's upgrade at the end of last week.
Evan Wilson, from Pacific Crest Securities, set his recommendation to "outperform" with a target price of USD 24, principally in anticipation of the release of Grand Theft Auto IV (pictured) next year, Reuters reports.
According to Wilson, "There are several catalysts lining up for Take-Two in the next five to six months. Take-Two is one of the few companies that has a very significant game coming out...investors will see it continue to do well on a relative basis."
Shares in Take-Two have fallen around 10 per cent across the year, largely following the announcement that GTA IV was set for a delayed release in 2008 instead of October 2007, but they've risen again since Friday.
At the time of writing the price stood at USD 18.00, up from Friday's close of USD 17.03, a rise of 5.7 per cent.
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