by Zacks
As we expected, GameStop reported stellar results for the fourth quarter with sales growth of 24% and EPS growth of 38% over the year-ago quarter. What s more, GameStop was equally bullish with its outlook for 2008 and 2009. The company expects to earn $2.25-$2.34 per in 2008 and EPS growth of 25% in 2009. Video game sales continue to be an island of strength amid a weak retail environment, and we expect industry growth trends to remain robust for the next few years. GameStop will benefit a great deal from these strong industry trends. We are once again increasing our estimates. Our 2008 EPS estimate goes from $2.22 to $2.29. We maintain our Buy rating and $65 target price.
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$46.99 (03/20/08)
