The firm also pushed back on a common investor concern that GTA VI might cannibalize Take Two mobile revenue, arguing console GTA players and mobile casual gamers are largely separate audiences with limited overlap.
Take Two shares remain down nearly 9% year to date, though Piper noted the stock still trades below its 10 year forward earnings average and may offer upside ahead of a November window tied to GTA VI. Some institutional investors reportedly stepped back earlier in the year over AI concerns, while Piper framed that pullback as a potential entry point for long only holders willing to ride through launch.
