Activision Blizzard (ATVI) PT, Estimates Bumped at Baird on Strong Start to 2015
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Rating Summary:
22 Buy, 22 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
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Baird analyst Colin Sebastian reiterated an Outperform rating and bumped his price target on Activision Blizzard (NASDAQ: ATVI) to $27.00 (from $26.00) following a strong start to 2015 driven by digital.
Sebastian commented, ". ATVI Q1 revenues of $703 million (-9% Y/Y, flat ex-FX) was well-above consensus expectations, driven by strong sell-through of Call of Duty (particularly online/DLC), while Hearthstone and catalog sales offset some of the expected Warcraft subscriber declines. Given the digital momentum (digital revenue mix at all-time high) and the positive initial reaction to Call of Duty: Black Ops 3, FY15 revenue/EPS outlook could prove conservative."
The firm raised FY 2015 EPS from $1.17 to $1.22.
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 $23.20 yesterday.
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