Take-Two Interactive Stock Is Trading Higher: What's Going On?
Portfolio Pulse from Adam Eckert
Take-Two Interactive Software Inc (NASDAQ:TTWO) stock is trading higher after the announcement that it will be added to the Nasdaq-100 Index. This follows the Nasdaq's decision to remove Seagen due to its acquisition by Pfizer, which received all required regulatory approvals. Additionally, Wolfe Research analyst Peter Supino initiated coverage on Take-Two with an Outperform rating and a price target of $186.
December 13, 2023 | 1:29 pm
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POSITIVE IMPACT
Take-Two Interactive's stock is experiencing an increase due to its upcoming addition to the Nasdaq-100 Index and a positive analyst rating from Wolfe Research with a price target of $186.
The inclusion in the Nasdaq-100 Index often leads to increased demand for a stock as index funds and ETFs that track the index are required to purchase the stock. The positive analyst coverage with a high price target further supports the bullish sentiment in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100