Activision Blizzard (ATVI) PT Raised to $55 at Jefferies
- Wall St. rises amid robust GDP data, mixed earnings
- ExxonMobil (XOM) Tops Q3 EPS by 5c; CapEx Light of Views
- Baker Hughes (BHI), General Electric (GE) in Partnership Talks, Not Merger Talks
- AbbVie (ABBV) Tops Q3 EPS by 1c; Boosts FY16 EPS Outlook
- Amazon.com (AMZN) Misses Q3 EPS by 26c, Offers Q4 Guidance
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.
Jefferies US Interactive Entertainment Team reiterated a Buy rating and raised his price target on Activision Blizzard (NASDAQ: ATVI) to $55.00 (from $45.00)
They commented, "Overwatch has already generated $500MM in sales since its launch in May, well ahead of our prior $400MM estimate for the full year. Additionally, the game will feature limited-time events designed to encourage in-game spending, suggesting Overwatch will be contributing high-margin digital revenue on a year-round basis. Call of Duty will be the focus through year-end; preorders are down, but ASP is up. ATVI remains a Franchise Pick."
FY 2016 EPS goes from $1.80 to $1.90 and FY 2017 from $2.02 to $2.03.
Shares of Activision Blizzard closed at $40.83 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Leerink Partners Downgrades McKesson (MCK) to Market Perform
- Jefferies Raises Price Target on General Dynamics (GD) Following 3Q
- FBR Capital Cuts Price Target on Government Properties Income Trust (GOV) to $25
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesJefferies & Co
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!