Jefferies US Interactive Entertainment Team reiterated a Buy rating and $25 price target on Activision Blizzard (NASDAQ: ATVI) following Q1 results, saying now is the time to buy with four of its biggest hits launching in the 2nd half.

The analyst team commented, "It was another solid quarter for Activision with contributions from the Diablo expansion launch as well as Skylanders and Call of Duty. With no meaningful game launches coming in 2Q, we continue to believe Activision looks set up for a solid 2H with four massive releases in Destiny (Sept.), Skylanders (Oct.), Call of Duty (Nov.), and World of Warcraft (2014, likely Dec.)."

Q2 EPS goes from $0.09 to $0.02 and FY 2014 EPS goes from $1.38 to $1.37.

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Shares of Activision Blizzard closed at $19.31 yesterday.