Activision Blizzard (ATVI): Call Of Duty Weakness Should Only Be 4 Cents This Q - Jefferies
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Jefferies analyst, Brian Fitzgerald, reiterated his Buy rating on shares of Activision Blizzard (NASDAQ: ATVI) after shares have fallen 17% from the Oct. 52-week highs on fears that Call of Duty is under-performing this holiday. Unit sales declines may be worse than anticipated but this should be partially offset by the higher uptake of the $80 premium SKU.
The analyst believes the COD launch could result in an EPS shortfall of around $0.04 but he is leaving 4Q estimates intact due to optimism around Overwatch and WoW, which both had engagement spikes.
No change to the price target of $55.
Shares of Activision Blizzard closed at $37.95 yesterday.
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