UPDATE: UBS Starts Activision Blizzard (ATVI) at Buy; Valuation Attractive

April 2, 2013 6:37 AM EDT Send to a Friend
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Price: $23.32 -0.13%

Rating Summary:
    18 Buy, 1 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 15 | Down: 38 | New: 13
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(Updated - April 2, 2013 11:50 AM EDT)

UBS initiated coverage on Activision Blizzard (NASDAQ: ATVI) with a Buy rating and a price target of $17.00.

"We believe Activision Blizzard is attractively valued at current levels, especially given the potential for continued strength in its core franchise and a possible recapitalization of the company's capital structure," said UBS. "While we expect the upcoming console transition will impact sales, we believe development costs will rise less than expected."

For an analyst ratings summary and ratings history on Activision Blizzard (NASDAQ: ATVI) click here. For more ratings news on Activision Blizzard click here.

Shares of Activision Blizzard closed at $14.44 yesterday.

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