JPMorgan names Take-Two Interactive top mid-cap pick on GTA VI launch

JPMorgan has named Take-Two Interactive Software its top pick in the mid- and small-cap sector, citing the upcoming launch of Grand Theft Auto VI in 10 days with unprecedented pre-order levels. The investment bank maintains a December 2027 price target of $310, based on roughly 29 times estimated adjusted earnings per share of $10.59 for fiscal 2028. JPMorgan raised its fiscal 2027 net bookings estimate by 1% to $8.3 billion, believing the company's $8.0-8.2 billion guidance is conservative. Take-Two reaffirmed fiscal 2027 bookings guidance of $8.0-8.2 billion, implying 19-22% growth, with estimates suggesting about 34 million units sold for GTA VI. NBA 2K27 posted its second-highest net bookings performance, while 2K and Zynga are expected to contribute roughly 29% and 34% of fiscal 2027 bookings respectively.