Activision Blizzard (ATVI) PT Lifted to $27 at Jefferies Post Q3

The Jefferies US Interactive Entertainment Team reiterated a Buy rating and boosted its price target on Activision Blizzard (NASDAQ: ATVI) to $27.00 (from $26.00) following strong results after the close.

The team said, "With ATVI trading ~14% below recent highs, we see a compelling buying opportunity as the fundamentals continue to improve. Call of Duty launched this week to solid reviews, low competition, and tailwinds from faster than expected next-gen console sales. Destiny is a hit with 9.5MM users playing an astonishing 3 hours / day on avg. WoW is seeing a resurgence. 4Q guidance looks conservative, and 1H'15 comps are easy."

The firm trimmed Q4 EPS from $0.96 to $0.89 and maintained FY 2014 EPS at $1.37.

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 $19.95 yesterday.

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