GameStop stock fell on Friday after its sudden surge in the two prior trading days. An analyst at BofA Securities says, “don’t blame shorts” for the sudden return to volatility.
Earlier this week, Telsey Advisory Group analyst Joseph Feldman reiterated a $33 price target. That’s actually the highest Wall Street price target listed by FactSet. His estimate for fiscal year 2022 adjusted Ebitda is $254 million, well ahead of consensus estimates. He actually does think the company will benefit from new gaming consoles, the new perspective from its three new board members, and a healthier balance sheet. But he still rates the stock Underperform.
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