Shares of Take-Two Interactive (TTWO) slide after the game maker reported lower than expected quarterly results last night. Following the report, however, several analysts gave positive views on the stock.

WHAT’S NEW: After the market close on Wednesday, Take-Two reported third quarter GAAP earnings per share of 21c on net bookings, its adjusted revenue metric, of $653.9M, compared to analysts’ estimates for 98c and $663.83M, respectively. In addition, the company guided for fourth quarter GAAP EPS of 73c-83c on net bookings of $410M-$460M, compared to the consensus estimates of 59c and $442.08M, respectively. Take-Two also updated its outlook for fiscal 2018, raising its FY18 EPS view to $1.50-$1.60 from 55c-80c and boosted its FY18 revenue view to $1.8B-$1.85B from $1.74B-$1.84B. Analysts currently expect the company to report FY18 EPS of $3.07 and revenue of $2.02B.

WHAT’S NOTABLE: The quarterly report comes a week after the company’s Rockstar division delayed the release of its upcoming Western action game “Red Dead Redemption 2” to October 26, 2018, from its prior launch window of Spring 2018. On its quarterly earnings conference call, Take-Two Chief Executive Officer Strauss Zelnick said that he is “confident” that October 26 will be the game’s release date.

STREET RESEARCH: Following the earnings report, Barclays analyst Ryan Gee backed an Overweight rating on Take-Two and raised his price target on the shares to $128 from $121. The analyst said that the higher run-rate for both “Grand Theft Auto Online” and “NBA 2K18” exiting Q3 provides a larger base of high-margin revenue to layer additional titles and content, and that he thinks the company is well-positioned to approach the margins level of its peers once the title slate really begins to fill out in fiscal 2019 with “Read Dead Redemption 2” and a new 2K title. In addition, Wedbush analyst Michael Pachter reaffirmed a Neutral rating on the stock, but raised his price target on the share to $126 from $95, saying that Take-Two has consistently delivered upside to guidance and consensus, making its shares attractive over the near term. Pachter noted, however, that his firm is not willing to recommend the shares due to an unclear long-term release slate. Meanwhile, Baird analyst Colin Sebastian reiterated his Outperform rating and $137 price target on Take-Two shares and recommended being a buyer on any weakness. The analyst said that the game maker reported solid Q3 results and added that the fundamentals remain positive given the digital transition and strong product sales.