Baird Maintains an 'Outperform' on Activision Blizzard (ATVI); Get 'Em While They're Hot

Baird maintains an 'Outperform' on Activision Blizzard (NASDAQ: ATVI) price target of $15.00.

Analyst, Colin Sebastian, said, "Activision reported another quarter above guidance and consensus expectations, due in large part to solid sales of Skylanders products and ongoing expansion of the Elite online subscription service, offset in part by slower Call of Duty disk sales (front-end loaded). Importantly, WoW ended Q1 at 10.2M subs, better than expected, and stable from January levels. Despite conservative guidance for Q2, we continue to see product momentum improving..."

"We are increasing our Q2 revenue estimate to $810 million from $770 million, but reducing our EPS estimate to $0.12 from $0.14. For 2012 we are raising revenue and EPS to $4.55 billion and $0.95 from $4.5 billion and $0.95."

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 $12.40 yesterday.

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