Wedbush Keeps Their Buy Rating on GameStop (GME)

By Carrie Williams

In a report released today, Michael Pachter from Wedbush reiterated a Buy rating on GameStop (GMEResearch Report), with a price target of $8.00. The company’s shares closed last Monday at $5.43, close to its 52-week low of $3.15.

According to TipRanks.com, Pachter is a 4-star analyst with an average return of 2.9% and a 55.3% success rate. Pachter covers the Services sector, focusing on stocks such as National Cinemedia, Cinemark Holdings, and AMC Entertainment.

Currently, the analyst consensus on GameStop is a Hold with an average price target of $5.36.

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Based on GameStop’s latest earnings release for the quarter ending October 31, the company reported a quarterly GAAP net loss of $82.1 million. In comparison, last year the company had a GAAP net loss of $489 million.

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GameStop Corp. engages in the retail of multichannel video game, consumer electronics, and wireless services. It operates through the following segments: United States, Canada, Australia, Europe, and Technology Brands.