Citing a Bloomberg interview with Rockstar’s head of publishing, Citi said a Red Dead title releasing in 2027 or 2028 ‘may not be unreasonable.’

  • Rockstar’s head of publishing Jennifer Kolbe dismissed speculation that the cost to develop GTA VI exceeded $1.5 billion.
  • Citi said Kolbe’s comments were a key data point, noting that Take-Two had $2.4 billion in capitalized software development costs as of its Q2.
  • The highly anticipated GTA VI is scheduled to be launched on Nov. 19, 2026.

Take-Two Interactive (TTWO) was in the limelight on Thursday after Citi suggested that unit Rockstar Games could release another major game in the next couple of years and potentially ease investor concerns about an earnings slowdown post Grand Theft Auto VI launch.

At the time of writing, TTWO shares were up 4.5%, marking its biggest single-day gains in more than two months.

Citi Says Expectations Of A Red Dead Release By 2028 Are Not Unreasonable

Citi highlighted a Bloomberg interview with Rockstar’s head of publishing, Jennifer Kolbe, who dismissed speculation that the cost to develop GTA VI exceeded $1.5 billion. The firm called Kolbe’s comments a key data point, noting that Take-Two had $2.4 billion in capitalized software development costs as of its second quarter (Q2).

If GTA VI cost less than $1.5 billion, the brokerage believes the remaining development spending could support another major release. Citi said a Red Dead title releasing in 2027 or 2028 “may not be unreasonable.”

Released in 2018, Red Dead Redemption 2, an action game set in the American ‘Wild West,’ surpassed 87 million copies. As of now, Rockstar Games has not officially announced that another Red Dead Redemption game is in development.

Citi maintained its ‘Buy’ rating and $270 price target on Take-Two, a 29% upside from current levels.

GTA VI Launch Gets Closer

The highly anticipated GTA VI is scheduled to be launched on Nov. 19, 2026, on PlayStation 5 and Xbox Series X/S. 

According to the Bloomberg report, analysts expect the game to sell around 40 million copies and generate more than $3 billion in its first four months. Its predecessor, GTA V, reportedly sold more than 230 million copies worldwide.

Retail’s Take On TTWO

Retail sentiment surrounding TTWO on Stocktwits remained ‘bullish’ over the past 24 hours, amid ‘high’ message volumes.

The stock has declined more than 16% so far in 2026 but has a 12-month consensus price target of $286.44, according to Koyfin data. This represents a 36% upside potential.

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