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Piper Jaffray Remains Bullish on Activision Blizzard (ATVI) Following Next Gen Console Survey

July 9, 2015 8:01 AM EDT
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Price: $94.42 --0%

Rating Summary:
    22 Buy, 22 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 20 | Down: 14 | New: 22
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Piper Jaffray maintains an Overweight rating and $27.00 price target on Activision Blizzard (NASDAQ: ATVI) next gen console survey. Analyst Michael Olson says that Call of Duty remained the title that gamers were "most excited" to buy in 2015.

Olson commented, "We conducted a survey of >300 Xbox One & PS4 owners through Google Consumer Surveys, focusing on new game purchase intent and digital content preferences. In March, we conducted the same survey with >600 next-gen console owners. We repeated the survey to gauge changes post E3 and with the holiday title lineup solidified. Call of Duty remained the title that gamers were "most excited" to buy in 2015, albeit at a modestly lower percentage. However, we do not view the slight decline as material and more the result of numerous new game announcements at E3. We believe the survey does provide further indication that concern around Call of Duty "franchise fatigue" is overblown. Activision's 1H'15 catalysts were limited, but believe shares set up well for a move higher into late '15. Maintain OW and $27 PT."

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 $24.80 yesterday.



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Piper Jaffray, Michael Olson