- Benchmark downgraded GameStop (GME -3.2%) to a Sell rating after all of the retailer's segments missed its estimates for Q2.
- The investment firm is the latest to call into question the core business model of GameStop.
- "We believe the console will complete the turn to digital within the next 5 years," warns Benchmark.
- Benchmark has a $29.76 on GME.
- Some bulls defended the stock today post-earnings. Wedbush raised its PT to $55, while Telsey Advisory is in at $47. During the earnings call, AT&T-branded stores and the integration of ThinkGeek were highlighted by GameStop execs as two earnings drivers.
- Earnings call transcript