Take-Two Interactive (NASDAQ: TTWO) has been explosive.

In fact, since bottoming out at around $206, it’s now up to $242.64 and could push even higher, as it nears the presales of its most anticipated game, Grand Theft Auto VI. Helping, analysts at BTIG just initiated a buy rating on the stock with a price target of $290 a share, noting that the stock is “firing on all cylinders,” as noted by CNBC.

From its current price, we ‘d like to see it closer to $270 as we near the launch of its latest game.  If you’re familiar with the franchise, you know it’s wildly popular and sells millions copies. We expect no less this time.

Grand Theft Auto V sold 230 million copies, the third best-selling game of all time. In the first three days of its release, it reportedly generated $1 billion in sales. GTA IV sold more than 30 million around the world. GTA III sold about 14.5 million. GTA II sold two million.

Grand Theft Auto VI could sell 46 million copies in the first day of release, as noted by analysts at Piper Sandler. “Investment bank Piper Sandler recently estimated that GTA 6 could sell more than 46 million copies on its first day of release. If accurate, those sales could generate roughly $3 billion in launch-day revenue, making it the largest entertainment launch of all time and comfortably surpassing the records previously set by GTA V,” according to RockStarIntel.com, a fan-run site covering video games created by Rockstar Games, which is a wholly-owned publishing label and subsidiary of Take-Two Interactive.

Sincerely,

Ian Cooper