Credit Suisse analyst Gary Balter, who earlier this year raised alarm about Gamestop Inc. (NYSE:GME) when Amazon Inc (AMZN) announced a move into the used game business, is now raising his outlook for Gamestop's fiscal year ending in January.  Balter raised his 2009 earnings per share estimate from $2.46 to $2.54 and his 2010 estimate from $2.70 to $2.92.

Those estimates are just about in line with consensus estimates of $2.55 this year and $2.92 in 2010.  Balter calls the shares "attractive," citing valuation and market share growth and says it is one of the, "better positioned names in its space heading into the holiday period and into 2010."

Analysts have been increasingly positive on Gamestop following their earnings report.  Last week, Wedbush Morgan analyst Michael Pachter added Gamestop to his "Best Ideas List."