Activision Blizzard (ATVI): Blizzcon Update - Jefferies
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Jefferies analyst, Brian Fitzgerald, reiterated his Buy rating on shares of Activision Blizzard (NASDAQ: ATVI) after returning from BlizzCon, where 25K attendees cheered various product announcements.
The biggest announcement was the creation of a new pro eSports league for Overwatch. Over time, ATVI aspires to build the NFL and ESPN of video games, and the new league will serve as a foundation upon which this business is built. ATVI is already working to identify potential team owners that will purchase the initial franchises.
No change to the price target of $55.
Shares of Activision Blizzard closed at $41.70 yesterday.
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