Activision Blizzard (ATVI) PT Lowered to $26 at Jefferies

Jefferies US Interactive Entertainment Team reiterated a Buy rating on Activision Blizzard (NASDAQ: ATVI) but lowered its price target to $26.00 (from $27.00) following solid Q4 but a dampened outlook due to FX.

The team commented, "Activision delivered a holiday beat with solid contributions from Call of Duty (which sold-through $1B+), Skylanders, Destiny, WoW, and Hearthstone. Fundamentals look strong; we remain optimistic around the games. But our enthusiasm is dampened by 2015 outlook, which reflects meaningful negative pressure from FX."

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 $21.82 yesterday.

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