UPDATE: National Alliance Raises PT to $20.27 on Take Two Interactive on Product Catalyst within Fiscal Year.

National Alliance reiterates its Buy rating on Take Two Interactive (NASDAQ: TTWO) and raises its price target from $19.85 to $20.27.

National Alliance notes, "We believe the Company's negative price action into fiscal Q4'12 earnings came from increased speculation that GTA V would be released post-fiscal ‘13 period; a negative balancing consideration punctuated by the general malaise of the legacy video game market and a weaker than expected Max Payne 3 initial sell-in. As we look forward, management's implied guidance confirms that GTA V will ship in their current fiscal period (03/31/13 ending), which should provide a sufficient product catalyst to reset positive price momentum."

TTWO closed at $11.51 on Thursday.