According to the latest reports, Take-Two Interactive has been given an “Overweight” Ratings From Wells Fargo. And that means Grand Theft Auto gamers aren’t alone in their excitement about finding out more regarding the GTA 6 release date. An announcement from Rockstar Games could still happen during 2020 but it now seems highly unlikely that the game will be arriving later this year.
Instead, many analysts are backing the next major launch from Rockstar Games to arrive during 2021, or beyond.
Waiting another year or two is something that many fans will dread, having been stuck waiting for news for much of the PS4 and Xbox One’s lifecycles.
It’s been such a long time waiting that it looks we won’t see a dedicated current-gen GTA game released.
Instead, GTA 6 is expected to skip to the PS5, Xbox Series X, Steam and Google Stadia platforms.
And while fans are stuck waiting, analysts have started taking note of Take-Two Interactive.
The parent company of Rockstar Games have a number of top franchises and development teams under its control.
But the Grand Theft Auto series is still the one that takes centre-stage for many watching the company’s stock price.
One of those people is Wells Fargo analyst Brian Fitzgerald, who has given Take-Two an overweight.
This means that it’s an attractive prospect to watch, and it appears that GTA 6 is a big part of it.
According to The Street, Fitzgerald set a price target of $150 a share for TT2 Interactive Software, commenting that the company “could be the last mega-product cycle story available among Video Game stocks.”
“At $7B lifetime sales & counting, (‘Grand Theft Auto V’), released in 2013, is the top selling video game of all time, and potentially the most lucrative media product ever created,” he added.
“We think a successful release of GTA VI would raise the steady state level of net bookings at TTWO by 33-50%, with significant OpEx leverage boosting operating income through the $600MM ceiling.”
No release date prediction was included but it seems that analysts see something coming in the near future.
Other analysts have also been keeping a closer eye on video games company, following the impact of the Coronavirus.
Todd Gordon, managing director at Ascent Wealth Partners had this to say about Take-Two to CNBC: “I really like this longer-term chart. It’s a smaller company, $14 billion market cap. It’s got Grand Theft Auto, one of the best-selling video game franchises of all time.
“Wells Fargo’s looking at, possibly, a release of GTA VI, which is interesting, so, they’re putting about another $4 billion in net bookings on that one. So, there’s a little bit of a premium in Take-Two.”
So there’s plenty of appetite from a plethora of different people who will want to know more about Rockstar’s plans for GTA 6.
Gamers remain optimistic that something will happen in the coming months, as companies prepare for the launch of the PS5 and Xbox Series X.
GTA games have been heavily tied to consoles, so the release of these next-gen devices could mean a wave of new announcements will be coming our way.
Published at Sun, 12 Apr 2020 06:01:00 +0000