Bank of America has increased its financial outlook for Take-Two Interactive Software (TTWO.US), driven by a more optimistic forecast for the upcoming Grand Theft Auto 6 Online component. The bank maintains a "Buy" rating on the stock and has set a price target of $368.

The highly anticipated Grand Theft Auto 6 is officially scheduled for release on November 19 for PlayStation 5 and Xbox Series X|S. The game's launch has seen multiple delays; it was initially planned for Fall 2025 before being pushed to May 26, 2026, as developers Rockstar Games and parent company Take-Two opted to allocate more time for development and refinement.

Analyst Omar Dessouky and his team at Bank of America now project that Grand Theft Auto 6 will generate $2.2 billion in online bookings revenue for fiscal year 2028. This represents an increase of $900 million over their previous estimate. The revised forecast is based on an assumed annual spend per monthly active user of $60, up from a prior estimate of $35.

Dessouky commented, "Our analysis indicates that the current monetization rate of Grand Theft Auto Online is significantly lower than other major live-service games, such as Fortnite, Call of Duty, and FC Ultimate Team. We anticipate this gap will narrow following the official launch of the new title."

The bank's expectation is that the profitability of Grand Theft Auto Online will at least match that of Fortnite. This view is supported by the belief that its "pay-for-progression" model is likely to incentivize higher average player spending compared to Fortnite's model, which relies more heavily on cosmetic purchases. Furthermore, the analysts noted that the player base for Grand Theft Auto 6 may possess a higher lifetime value compared to the audience for Fortnite.