GameStop Stock: Poised to Bounce to $50?
It isn't all doom-and-gloom predictions on Wall Street for GameStop . In fact, the video-game retailer just caught an upgrade from an analyst at Baird, who thinks shares could rise another 20% to hit $50.
In the video below, Fool contributor Demitrios Kalogeropoulos breaks down Baird's thesis, which relies on two main catalysts for GameStop's stock: market share gains and new business lines. Demitrios notes that GameStop's dominance over the video game industry is still growing, as its market share was nearly half of all Xbox One and PS4 software titles sold last quarter.
The company also has made some promising diversification moves into consumer electronics and wireless phone services. Both of those business lines work well with the buy-sell-trade model that's been so profitable for GameStop to date. Watch the video below for Demitrios' full take on this upgrade, including whether he sees the stock hitting that $50 target soon.
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The article GameStop Stock: Poised to Bounce to $50? originally appeared on Fool.com.Demitrios Kalogeropoulos has no position in any stocks mentioned. The Motley Fool owns shares of GameStop. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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