×
Pro Analysis

Take-Two Interactive to rally next year on 'Red Dead Redemption 2' release, Cowen says

An image from "Red Dead Redemption 2" by Rockstar Games
Source: Rockstar Games
An image from "Red Dead Redemption 2" by Rockstar Games

Investors should buy Take-Two Interactive shares ahead of the release of "Red Dead Redemption 2" next year, according to Cowen, which reiterated its outperform rating on the gaming publisher and called it one of its top picks for 2017.

"We are elevating Take-Two to Best Idea status as we think it has the easiest road forward in 2017 among our covered names. Fundamentals for the video game space remain strong and TTWO has the best catalyst path into 2017," analyst Doug Creutz wrote in a note to clients Monday.

"The case for owning the stock ahead of what we expect to be a very successful Red Dead Redemption 2 launch in fall 2017, and a significant uptick in FY18 EPS, is very straightforward."