Take-Two shares climbs up

The shares of Take-Two Interactive Software Inc. is on a high these days. There seems to be some confidence in the company’s profitability.

Anthony Gikas, analyst, recently upgraded Take-Two to “Overweight” from “Neutral”. The price has been raised to $15 from $11.

He writes for investors: “Our confidence in profitability and execution are incrementally better.”

He says that earlier this month Take-Two posted a bit smaller quarterly loss than what was expected by analysts were. He mentioned further that the company also projected earnings and sales that are in line with estimates for the current, fiscal Q4.

Anthony Gikas expects the coming year to bring relief to the broader video game industry.

The shares of Take-Two rose 64 cents i.e. 5.5 %, to $12.11 in the past one year. The stock traded somewhere between $5.56 and $17.31.