THQ up 11.25%!

Relax, that only amounts to a gain of 36 cents to $3.56. Still, the Agoura Hills-based videogame company received a boost this morning from Kaufman Bros. analyst Todd Mitchell, who placed a $6 target price on the stock. CEO Brian Farrell said the videogame company will generate positive cash flow in the March 2010 fiscal year. THQ has just completed $220 million worth of cost cutting, which is one reason for the encouraging news (layoffs are often a good thing in the perverse world of Wall Street). From Eric Savitz at Tech Trader:

Mitchell also thinks the stock will benefit from buzz over its UFC 2009: Undisputed game (UFC, of course, is the acronym for Ultimate Fighting Championship, a sport which offers a bit of the old ultra-violence....hmmm...how about a game based on A Clockwork Orange...) Mitchell notes that the UFC is holding a major tournament in Montreal on April 17, with THQ due to report results in early May, and its UFC title due out May 19. "We believe this chain of events could serve as a catalyst to pull shares of THQI out of their current doldrums."