Take-Two Continues its Run (TTWO)

Take-Two Interactive (NASDAQ:TTWO)

Take-Two Interactive (NASDAQ:TTWO) shares are up another 4% today and hit $9.40 today.  Trading on the Icahn fumes of a takeover, buyout or better, the trend is up for TTWO.

liberty cityLast week we wrote Take-Two Shares up 12% on Speculation and investors have jumped in hoping that Carl Icahn can take TTWO to Paradise City (click to watch GNR) or maybe just Liberty City.

The Street is also jumping on the Take-Two train, on Friday an upgrade from Kaufman Bros came in on TTWO from Sell to a Hold.  Then, Sterne Agee upgraded Take-Two from a Neutral to a Buy, tagging the stock with a price target of $13.  Even with shares trading at $9.36 today that means that Sterne Agree believes the stock could still gain another 38.9% in the next 12 months.

As most of you know Carl Icahn now commands 11% of Take-Two Interactive (NASDAQ:TTWO) shares and 783,479 call options in December.

Take-Two (TTWO) just reported a wider fiscal fourth-quarter lossa and the company said that it's continuing to see a cautious consumer spending and game environment even into 2010. Take-Two has struggled this year amid the recession, as game sales dropped.

What is impressive today is that Take-Two shares are still gaining despite normal volume, but can the gains hold?

Best of luck to those playing the rally and take a trip back to 1991:

Disclaimer: No positions in TTWO.

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