12:30 PM EDT, 05/17/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We lift our 12-month target by $5 to $177 on 19x our CY 2025 EPS view of $9.32, below peers and its three-year historical average reflecting tough comps, partially offset by new content pipeline. We cut our FY 2024 (Mar.) EPS view to $2.40 from $3.51 and FY 2025's to $6.26 from $7.60. TTWO posted Q3 EPS of $0.53 vs. $0.86, missing consensus by $0.19. Net bookings declined 3% to $1.37B with recurrent consumer spend net bookings down 7% amid lower mobile advertising and sales for NBA 2K24. We have concerns about TTWO's reduced full-year guidance, which reflects challenges in mobile ads and NBA 2K24 performance. However, we're optimistic about TTWO's robust pipeline of new content beyond 2024. Zynga's new Match Factory! mobile game has strong user retention and monetization, which bodes well for TTWO. In-app purchases surpassed expectations, fueled by 50%+ daily in-app revenue growth in Toon Blast. Near-term bookings face tough comps, but the slate of new game releases strengthens 2025 and beyond.