TLDR
- BTIG Research initiated coverage on Take-Two Interactive (TTWO) with a Buy rating and a $290 price target, implying ~19.5% upside
- TTWO opened at $242.64 Wednesday, up 1.3% on the day, and is trading around $251
- Bank of America raised its price target sharply from $320 to $368, the most bullish call on the Street
- Wall Street consensus sits at “Moderate Buy” with an average price target of $292.12 across analysts
- GTA VI pre-orders open June 25 at a reported $79.99 launch price, a key near-term catalyst for the stock
BTIG Research initiated coverage on Take-Two Interactive (TTWO) on Wednesday with a Buy rating and a $290 price target. That implies roughly 19.5% upside from Tuesday’s close of $242.64.
Take-Two Interactive Software, Inc., TTWO
BTIG analyst Clark Lampen is the latest to add a bullish voice to what is already a crowded bull camp on Wall Street. The stock opened Wednesday at $242.64 before pushing higher to around $251, a gain of about 3.4%.
The consensus rating across analysts stands at “Moderate Buy,” with an average price target of $292.12, according to MarketBeat data.
Of the 20 analysts covering the stock, 17 have a Buy rating, one has a Strong Buy, one holds a Hold, and one carries a Sell.
The most aggressive call comes from Bank of America, which raised its price target from $320 to $368 this week and maintained its Buy rating. That’s well above the Street average and suggests at least some analysts see a bigger move ahead.
DA Davidson and Benchmark both reaffirmed Buy ratings earlier this month, while BMO Capital Markets kept its Outperform rating. Wells Fargo trimmed its target slightly from $293 to $287 but kept an Overweight rating.
GTA VI Is the Real Catalyst
The bigger story driving all this analyst attention is Grand Theft Auto VI. Pre-orders are set to open June 25, with the game reportedly priced at $79.99 at launch.
That price point is above what many had expected and, if confirmed, signals Take-Two’s confidence in demand for the title. GTA VI is widely considered one of the most anticipated game releases in years.
TTWO carries a 52-week range of $187.63 to $264.79. The stock’s 50-day and 200-day moving averages sit close together at $222.11 and $222.70, meaning the recent push above $240 marks a clear break higher.
The market cap stands at around $45 billion. The price-to-earnings ratio is -149.78, reflecting that the company is still running at a loss — not unusual for a major publisher in a heavy development cycle.
Insider Selling Worth Watching
CEO Strauss Zelnick sold 208,969 TTWO shares on June 1 at an average price of $227.34, for a total of roughly $47.5 million. That reduced his direct position by 17.2%.
President Karl Slatoff sold 40,358 shares on June 3 at $216.09, cutting his position by 50%. Both transactions were executed under pre-arranged Rule 10b5-1 trading plans.
In total, insiders have sold around 570,015 shares worth approximately $128.4 million over the past 90 days. Institutional investors hold 95.46% of the stock.
Pre-orders for GTA VI open Thursday, June 25.
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