Activision Blizzard (ATVI): Raising PT - Benchmark

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.

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 $44.13 yesterday.

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