‘Grand Theft Auto VI' is still on track for 2026 release. Buy its owner's stock, BTIG says

<p>"Grand Theft Auto (GTA) VI" is poised to debut this fall following a long period of will-they-won't-they speculation from its fanbase, likely catapulting shares of its owner Take-Two Interactive Software to new heights, according to BTIG. The investment firm initiated coverage of the entertainment name with a buy rating.</p>

<p>It also put a $290 price target on shares, suggesting 20% upside from Tuesday's close. "Later this year, Take-Two is scheduled to release the next installment of its most important and commercially relevant global gaming franchise – 'Grand Theft Auto VI,"' analyst Clark Lampen said Wednesday in a note to clients.</p>

<p>"We expect the title to catalyze a sustainable, multi-year improvement in earnings power for the enterprise … [and] there is precedent for multiple expansion throughout the pre-release marketing cycle." The game is slated for release Nov. 19 after facing a number of delays that pushed its debut back by several years. Its developer, Rockstar Games, will begin accepting pre-orders for the video game, which will be priced at around $80, the company said Wednesday in a statement.</p>

<p>The latest installment in the GTA series is poised to create a windfall for its developer Rockstar Games, boosting shares of its owner Take-Two Interactive, if history is any indication. Its predecessor, "Grand Theft Auto V," has sold millions of units worldwide since its release in 2013.</p>

<p>"We see a path to a higher share price over the balance of the year, which underpins our Buy rating and price target," Lampen wrote. BTIG's call falls in line with consensus on Wall Street.</p>

<p>Of the 32 analysts covering Take-Two, 30 have a buy or strong buy on the stock, LSEG data shows. Earlier this month, Piper Sandler also initiated coverage of Take-Two , assigning the stock an overweight rating.</p>