In his latest notes on publisher Take-Two, Janco analyst Mike Hickey has predicted the company will soon begin to raise capital in earnest on investor enthusiasm over
BioShock and
GTA:IV, and predicts 2K Boston (née Irrational) could release its unannounced game in fiscal 2009.
"We believe new management’s turnaround plan is well underway," said Hickey, saying the company should see some upside in the fourth quarter with strong sales of
BioShock and the forthcoming release of
Manhunt 2.
Hickey also has said that while the potentially solid holiday lineup has "seemingly eased some of the market’s liquidity concerns," he expects "management could choose to raise capital now, leveraging a higher share price, investor enthusiasm over the
GTA:IV release, the franchise potential of
BioShock and their strong fiscal ’08 guidance."
Turning to fiscal 2009, and Rockstar in particular, Hickey says not only its
GTA franchise and possible Wii, PS2, or PSP extensions should help Take Two growth, but also
LA Noire and possible unannounced content like a new
Max Payne or
Red Dead Revolver.
Apart from Rockstar, 2K Games itself, particularly its 2K Boston and 2K Australia studios (formerly known as Irrational Games), Hickey has posited that 2K Australia could release their unannounced game in fiscal 2009, leading to growth off the back of
BioShock, and expects a platinum selling hit in
Mafia 2 in the same fiscal year.
