GameStop Shares Unstoppable: Guidance + Short Interest (NYSE:GME)

GameStop Corp. (NYSE:GME) shares racked up 6.5% thanks to a better than expected guidance and the analysts are jumping onboard.  GME's short float is at 15% which is also helping for the uptick.

So much for going short GameStop, right now 15.36% of the float is short (shortsqueeze.com) and shares are now 8% above its 50 day moving average.

Piper Jaffray has lifted its price target on shares of GameStop (NYSE: GME) from $16 to $18 this afternoon. Better-than-expected Q4 results this morning have pushed shares of GameStop about 7% higher today. The stock last traded at $21.20.

The firm noted that GameStop's quarterly earnings were inline with the Street and said that the upside surprise to guidance was due to an "accelerated share repurchase which adds nearly $0.25 to FY10 EPS." Piper said "execution has been terrific and fundamentals are stable." Piper concluded with, "we remain Neutral on GME as net income and EPS peak during FY11E."

SOURCE: http://www.streetinsider.com/Analyst+Comments/Piper+Jaffray+Raises+Target+on+GameStop+%28GME%29+to+$18+Following+Strong+Guidance/5451516.html