Gamestop (GME) upgraded by Suntrust

[The Chugach Skier]

Now that Suntrust has upgraded this stock, it has climbed the last couple days. They set a price target of $40, but I was wondering if anyone knows what the time frame for that projection is. End of the quarter? Year? Next year?

They are poised to do well with the Xbox 360 coming out next month and the PS3 next year.

[englishman26]

Well I own it and I'm going to sell it at the end of this quarter wherever it is. I doubt it'll go higher than it will be at christmas when CNN are running their "mothers can't get enough xboxs for their spoilt children" stories.

I'd say $40 is a realistic target by then.

[The Chugach Skier]

I have also thought of selling at the end of the year, but with the Xbox essentially selling out its US pre-order stock there may continue to be high demand at the end of the year, and sales may continue to rise as the ones who weren't sure decide it is a worthwhile machine (or not). Also of consideration is the Sony PS3, it has the potential to do way more for GME than the xbox can, so next spring/summer may be even better. Think I should sell it and then re-buy again pre-PS3?

I totally posted this in the wrong area. Hmm. I wasn't even drinking this morning. I must be getting old....