Baird's Colin Sebastian predicted that Rockstar Games' anticipated sequel will not arrive this year despite persistent rumours to the contrary, MCV reports.
The game was tipped for launch this October following reports that a member of its development team let the date slip via his online CV and LinkedIn page.
BioShock Infinite's recent delay was attributed to a potential Grand Theft Auto 5 release that month, according to some analysts.
Grand Theft Auto 5 takes place in the city of Los Santos and its surrounding hills, countryside and beaches. Its lead character is thought to be a man named Albert De Silva, played by Ned Luke.
Rockstar is expected to announce an official release date for Grand Theft Auto 5 at E3 in June.
Watch the Grand Theft Auto V announcement trailer below: