Brean Murray Carret Raises Price Target on Activision Blizzard (ATVI), Calls Guidance Conservative

Brean Murray Carret & Co. is reaffirming its Buy rating on shares of Activision Blizzard (NASDAQ: ATVI) and is lifting its price target from $15 to $16.

The company reported solid Q4 results as both sales and earnings topped the Street's expectations. While many analysts were skeptic on the company FY12, Brean Murray Carret calls it conservative.

With over $3.4 billion in cash at year end, the company maybe looking to increase its dividend and buyback program, reports the firm.

For Q1, the firm is forecasting earnings of $0.03. Brean Murray Carret raised its FY12 EPS estimate from $0.95 to $0.98. For FY13, the firm estimates EPS of $1.09.

For an analyst ratings summary and ratings history on Activision Blizzard click here. For more ratings news on Activision Blizzard click here.

Shares of Activision Blizzard closed at $12.66 yesterday, with a 52 week range of $10.40-$14.40.

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Brean Murray Carret & Co., Dividend, Earnings

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