Jefferies upgrades Take-Two Interactive as video game production ramps up, sees 30% rally

Strauss Zelnick, CEO of Take Two Interactive.
Adam Jeffery | CNBC

Take-Two Interactive's ramped-up production pipeline should help its stock surge more than 30%, according to investment firm Jefferies.

Last month, the video game publisher released guidance for strong growth in the number of titles to be published in years ahead. The company said it would release four games in its immersive core category over the next year and then 19 in the following two years.

Analyst Andrew Uerkwitz upgraded the stock to buy from hold, saying in a note to clients on Thursday that it was hard to grasp how many games Take-Two is developing and that "we are drowning in IP."

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