Take-Two Continues its Run (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.
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.