GameStop downgraded to Sell from Hold at Ascendiant
Ascendiant analyst Edward Woo downgraded GameStop to Sell from Hold with a price target of $10, down from $12. The stock closed Friday down 7% to $158.36. The Reddit trading surge" is likely to fade as "digital threats increases," Woo tells investors in a research note. The analyst sees "significant digital and execution risks" for GameStop and a "hazy" outlook for fiscal 2021 despite "strong new consoles launches."