Video Game Publisher Take-Two Upgraded To Buy After Recent Drop
Summary
Investor concerns over the shaky start for the online component of hit video game "Red Dead Redemption 2" from Take-Two Interactive Software ( TTWO ) are overblown, several Wall Street analysts say.XTake-Two studio Rockstar Games says it plans to make adjustments to the in-game economy for "Red Dead Online" following a backlash from players."The stock has fallen 22% from a recent high set on Halloween (Oct. 31), and we now see it as attractively valued," CFRA analyst Scott Kessler said in a note to clients."Many current games have economies (where players can earn and spend currency), which are very important for engagement, growth and profitability," Kessler said.Analyst Justin Post said concerns about the monetization potential for "Red Dead Online" are "overblown.