Home / Business and Economy / GTA 6 Hype: Teens Ready to Buy, Analysts Bullish
GTA 6 Hype: Teens Ready to Buy, Analysts Bullish
2 Nov
Summary
- 70% of new console owners plan to buy Grand Theft Auto 6.
- Around 90% of GTA 6 buyers will play the online version.
- Analysts predict 28% revenue growth with GTA 6 launch.
Piper Sandler has reiterated an Overweight rating for Take-Two Interactive (TTWO), setting a price target of $290 based on strong teen enthusiasm for the upcoming Grand Theft Auto 6. The firm's survey of approximately 9,000 teens revealed that 70% of current-generation console owners plan to buy GTA 6, with 55% intending immediate purchase. Furthermore, about 90% of these buyers are expected to play the online version, suggesting a high payer rate.
Analysts are optimistic about Take-Two's future performance, forecasting EPS of $6.70 for fiscal 2027. This projection is supported by an anticipated 28% revenue growth, largely attributed to the GTA 6 launch. Despite a recent net loss, the company's stock, currently trading near its 52-week low, presents a potential 52% upside according to Piper Sandler's target. Several other Wall Street firms maintain positive ratings, with price targets ranging up to $330.
Recent analyst updates reflect varied perspectives but a generally positive outlook. While some lowered price targets due to adjusted earnings estimates or moderating sales forecasts for other titles like NBA 2K, the consensus remains strong. The upcoming Grand Theft Auto 6 launch is a key driver for these optimistic projections, with initial unit sales estimates reaching 45 million or more.
