You are here: City and Corporate / Broker view - Game Group
Broker view - Game Group
Archived article dated Monday May 11th 2009
Investec Securities has re-iterated its 'Hold' recommendation on Game Group and increased its pre-tax profit forecasts and target price on the company.
The broker says increased margin guidance from Game management has led it to upgrade its forecasts and it now pencils in pre-tax profits for 2009/10 up by 17% to £118 million and up by 20% for 2010/11 to £116.5 million.
Investec is also positive on the decision by Game to continue with its expansion plans and to further capitalise on the pre-owned market. It is, however, cautious on short-term trading as the video games market has softened on the back of extreme competition.
This does not deter the broker from pushing-up its target price on Game from 145p to 210p, which compares with an underlying share price of 194.25p following the 2% fall in early trading today (May 11).
Tagged as: game group | broker view | city
Share this article:
Should your colleagues be reading the Retail Bulletin?
Let them know about us.
