Report
Neil Macker
EUR 98.48 For Business Accounts Only

Take-Two is evolving away from its dependence on GTA with the growth of new and old franchises.

Take-Two posted a strong end to fiscal 2017 as the fourth quarter came in well above projections. Management also provided fiscal 2018 GAAP guidance with a revenue target of $1.95 to $2.05 billion, well above our previous projection of $1.7 billion despite delaying the launch of Red Dead Redemption 2, or RDR 2, into fiscal 2019. 
We are maintaining our no-moat rating and are in the process of rolling our model and will likely raise our $40 fair value estimate by $10 to $12 to account for the str...
Underlying
Take-Two Interactive Software Inc.

Take-Two Interactive Software is a developer, publisher and marketer of interactive entertainment for consumers. The company develops and publishes products principally through its two wholly-owned labels Rockstar Games and 2K, as well as its Private Division label and Social Point, a developer of mobile games. The company's products are designed for console gaming systems such as the Sony Computer Entertainment, Inc. PlayStation?4, Microsoft Corporation Xbox One?, and Xbox 360?, the Nintendo Switch, and personal computers, including smartphones and tablets. The company delivers its products through physical retail, digital download, online platforms and cloud streaming services.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Neil Macker

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