Piper Jaffray Comments on GameStop

Piper Jaffray provided color on GameStop (NYSE: GME) in a research report published today. Piper Jaffray has previously given GameStop a Neutral rating and $22 price target.

In the report, Piper Jaffray states, "While management focus is on digital growth, we note that digital revenue represents roughly 5% of overall revenues today. It remains unclear if GameStop has a viable long term strategy to meet the demands of the digital consumer, but we believe it will be 2+ years until we see widespread downloading of console games."

Shares of GameStop closed today at $21.34, up 4.30% from Wednesday's market close.