JPMorgan reiterated its “Overweight” rating on Take-Two Interactive (NASDAQ: TTWO) and maintained a TTWO stock price target of $310, citing strong expectations for the upcoming Grand Theft Auto 6 (GTA 6) launch
The investment bank also highlighted that Take-Two reaffirmed its fiscal 2027 net bookings guidance of $8 billion to $8.2 billion, implying annual growth of 19% to 22% also supported by unprecedented GTA 6 pre-orders.
As JPMorgan estimates, the guidance assumes approximately 34 million GTA 6 copies sold, broadly in line with the 33 million copies sold by GTA V during its first fiscal year.
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GTA 6 launch and other games will drive TTWO stock price
Meanwhile, NBA 2K27 delivered the second-highest net bookings ever but fell short of management’s expectations. Take-Two attributed the miss to competition from other entertainment events, including GTA 6. However, bookings and player engagement are expected to accelerate.
JPMorgan also maintained its expectations for Zynga, which it sees contributing approximately 34% of Take-Two’s fiscal 2027 net bookings. The mobile gaming studio continues to focus on improving its existing portfolio and launching new titles, including Top Goal, which remains in soft launch.
Following its assessment, JPMorgan raised its fiscal 2027 net bookings estimate by 1% to $8.3 billion, reflecting expectations for strong GTA 6 preload activity. Its December 2027 price target of $310 is based on a valuation multiple of approximately 29 times projected fiscal 2028 adjusted earnings per share of $10.59.
Wall Street sets Take-Two stock price target
Other Wall Street firms have also maintained bullish views on Take-Two. For instance, Oppenheimer reiterated its “Outperform” rating and $280 price target, noting that Grand Theft Auto 6 outperformed expectations.
Similarly, BTIG maintained a “Buy” rating with a $262 target, while Bank of America (BofA) Securities reiterated its “Buy” rating and $330 target, likewise highlighting strong GTA 6 pre-sales.
Jefferies also maintained a “Buy” rating and $300 price target, despite identifying a $20 million bookings shortfall, primarily attributable to weaker NBA 2K performance and declining mobile bookings.
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