Bank of America Sees Big Upside in Take-Two Stock, Points to GTA Online 2.0

Take-Two Interactive has had a rough 2026 even with the most anticipated game in its history due this year. Shares are down about 21% so far this year and recently slipped below $200, well off a 52-week high of $265. Bank of America is betting on a recovery anyway. In a memo to investors reported by Business Insider, the bank recommends holding Take-Two through the GTA 6 launch and says the stock still looks cheap.

GTA 6 arrives November 19 on PS5 and Xbox Series X|S. The bank's bullish case rests less on the launch itself than on what might follow. Rockstar has described GTA 6 as a single-player game, but almost everyone expects some form of multiplayer eventually. GTA Online for GTA 5 has been a huge moneymaker for years through microtransactions, and Bank of America thinks a version built for GTA 6 could earn even more. In its view, investors are not yet giving that possibility full credit.

The bank estimates a new online version could launch in the first calendar quarter of 2027, meaning January through March. That window also lines up with a possible PC release of GTA 6, which would add another source of revenue. None of this has been confirmed by Rockstar, so the timing is the bank's projection rather than a company commitment.

The single-player-first approach would not be unusual for the studio. GTA 5 and Red Dead Redemption 2 both launched without online multiplayer, so a delayed online component for GTA 6 would follow an established pattern.

Bank of America keeps a buy rating on Take-Two but lowered its price target to $330 from $380. That still implies upside of more than 60% from the recent share price. The bank's core argument is that the stock's slump may be overstating the risk, with both the GTA 6 launch and a possible follow-on online product still ahead.