Activision Blizzard (ATVI): Quantifying The 'Overwatch' Upside - Jefferies

Jefferies analyst, Brian Pitz, thinks that Activision Blizzard (NASDAQ: ATVI) Overwatch looks like a hit. The Street assumes it will sell 5-7MM units in 2Q. We continue to argue that Destiny (9MM+ units at launch) is the best comp, and currently Overwatch is besting Destiny against all trackable metrics. If Overwatch sells 10MM units, the analyst believes the company could post $200-250MM of rev upside (~15-18%) and $0.07-0.09 of EPS upside (~18-20%) to Street in 2Q.

No change to Buy rating or $45 PT.

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 $38.95 yesterday.

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