Associated Press reports that Bear Stearns analyst Edward Urban believes the US publisher has a long way to go before all is rosy at Take 2.

After the recent shareholder coup that ousted almost all of the board last month, BMO Capital Markets analyst Edward Williams also weighed in on the debate over Take 2’s future.

Associated Press reports that he believes Take 2’s ‘short-term outlook remains murky, as the company's new management needs some time to evaluate assets and reorganize the business, if and where it is necessary.’

But a turnaround will begin later this year, he added. “The upcoming launch of Grand Theft Auto IV, and the potential for a meaningful turnaround in its sports business, should act as key catalysts," Williams wrote.