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Benchmark lifts Take-Two target as it sees upside from GTA VI

AuthorPratyush Thakur
Published 16/10/2025, 17:18
© Reuters.
TTWO
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Investing.com -- Benchmark raised its price target on Take-Two Interactive to $300 on strong momentum from NBA 2K26 and anticipation for Grand Theft Auto VI in May 2026.

Analysts said Take-Two enters the second quarter of fiscal 2026 on solid footing after a strong first quarter and raised full-year guidance.

While launches for Mafia: The Old Country and Borderlands 4 fell below expectations, NBA 2K26’s early adoption, expansion to Nintendo Switch 2, and improved in-game monetization are expected to anchor revenue. Mobile gaming continues to contribute, though growth is moderating after a strong start to the year.

Borderlands 4 saw an early price cut on Steam to drive unit sales ahead of its first paid DLC, reflecting demand below expectations despite favorable reviews.

Mafia: The Old Country performed moderately well, ranking third in U.S. console sales in August. NBA 2K26 led console sales and showed record engagement on Steam, supporting a 21% year-on-year rise in Take-Two’s software revenue.

Benchmark expects fiscal 2026 as a transitional year before GTA VI and GTA Online 2 drive a multi-year earnings inflection.

The firm applied a 30× adjusted EPS multiple over normalized 2027–2028 earnings to arrive at the $300 target, reflecting the expected revenue boost from GTA VI and sustained live-service monetization.

Analysts said any near-term quarterly weakness could present opportunistic buying opportunities ahead of the GTA VI launch.

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