Activision Blizzard (ATVI): Raising PT - Benchmark
- Wall Street falls sharply on worries about banks
- Some Deutsche Bank (DB) Clients Said to Reduce Collateral on Trades
- Qualcomm (QCOM) in Talks to Acquire NXP Semiconductors (NXPI) - DJ
- Costco Wholesale (COST) Tops Q4 EPS by 4c; Comps Rose 3%
- After-Hours Stock Movers 09/29: (MENT) (CEMP) (COST) Higher; (CAMP) (ABUS) Lower (more...)
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.
Benchmark analyst, Mike Hickey, reiterated his Buy rating on shares of Activision Blizzard (NASDAQ: ATVI) and raised his price target to $49.79 from $45.56. After meeting with the company at the Benchmark Conference, the analyst believes key releases have exceeded his expectations for the current fiscal ‘Q3 quarter. That said, he remains cautious toward fiscal ’17 due to the presumed lack of new releases from Blizzard. He is more optimistic for fiscal ’18 growth when both Blizzard and King could generate considerable growth.
The increased price target is based on 25x 2017 EPS, up from 23x + net cash per share.
Shares of Activision Blizzard closed at $44.13 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- MKM Partners Raises Price Target on BlackBerry (BBRY) Following 2Q Beat
- Ferrellgas Partners (FGP): Cutting Ests And Reiterating Sell - UBS
- UBS Raises Price Target on Taubman Centers (TCO) After Visiting Beverly Center
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!