Take-Two -4.6% as Rockstar co-founder departs
Feb. 05, 2020 10:44 AM ETTake-Two Interactive Software, Inc. (TTWO)TTWOBy: Jason Aycock, SA News Editor2 Comments
- Take-Two Interactive Software (NASDAQ:TTWO) is down 4.6% today after disclosing that Dan Houser, co-founder and VP Creative at Rockstar Games, is exiting the company March 11.
- That follows an extended break he began in spring 2019.
- That's not a big concern for the pipeline, SunTrust says, noting the long break, and that Houser's brother and co-founder Sam Houser continues to lead Rockstar.
- But the move puts an "even bigger cloud" over visibility into the company's game schedule, Stephens says: "Rockstar is notoriously secretive so it is tough to decipher what this could mean for ongoing projects (most notably GTA VI) but such a key man departure likely adds some execution risk."
- Stephens has a price target of $110, now implying 9.2% downside.
- Sell-side analysts overall are Bullish, as are Seeking Alpha authors. The stock has a Quant Rating of Neutral.