BofA Downgrades Take-Two Interactive
Banc of America downgraded video-game software company, Take-Two Interactive (TTWO ), to neutral from buy.
Analyst Gary Cooper says that now that "Grand Theft Auto (GTA): San Andreas" has launched, he's decided to take an early exit off the highway largely due to lack of product momentum for Take-Two. He believes expectations were fully built into the company's share price for GTA.
Cooper says "GTA: San Andreas" will be huge; however, this is widely known and believes these expectations should be discounted in the current share price. Beyond GTA, there are no other blockbuster releases in the company's lineup. He only has moderate expectations for releases from Rockstar Game, Take-Two's publishing label, after GTA.
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