AG Edwards analyst predicts changes for Take-Two |
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AG Edwards analyst William C. Kreher has predicted that Take-Two Interactive will be having a "headcount reduction" in lieu of the new management taking over. This is just one of the changes he predicted that the new management will be implementing.The other changes he expects to be implemented would be an evaluation of third party vendor relationships, real estate costs, and a more stringent green light process. Every cloud has a silver lining however, as Kreher noted that certain market factors could help Take-Two.
He spoke about Sony's PSP price drop, saying, "The recent price cut on PSP should aid Take-Two more than others. With 15% of holiday sales coming from PSP titles, Take-Two has more exposure to the PSP than rivals."
Another thing that could help the company is Reggie Fils-Aime acknowledging Take-Two and its importance to Nintendo. "[Take-Two is] now being more aggressive on the red-hot Nintendo Wii." The company will be releasing Manhunt 2, Fantastic Four: Rise of the Silver Surfer, and The BIGS on the console. If the games that Take-Two produces turn out to be well accepted, then it could definitely give the company a much needed boost.
AG Edwards has also been analyzing Take-Two shares. Kreher said that "In recent years, through focused acquisitions and partnerships, the company has made successful strides to diversify by entering the sports genre and improving its position in the PC market." On the downside, the company has also been subject to, according to Kreher, "significant controversy, including investigations from the Manhattan District Attorney, SEC, as well as numerous class action lawsuits." He ended the analysis by saying:
the company has been unable to leverage diversification efforts into increased profitability. The company's continual missteps, including several investigations and class-action lawsuits, have also provided overhang to the stock. We feel that these issues warrant a Hold rating and Speculative suitability.
So it seems that Take-Two is in a lot of hot water if their stocks have been marked by AG Edwards. However, if the new management turns the company around, then we can expect more good things to come from this company.
Via GameDaily.biz
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