Activision Blizzard (ATVI) PT Raised to $55 at Morgan Stanley; Sees $100M Annual Opportunity from Ads/Licensing

March 27, 2017 8:55 AM EDT
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Price: $96.48 -1.33%

Rating Summary:
    34 Buy, 6 Hold, 1 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 17 | Down: 13 | New: 41
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Morgan Stanley raised its price target on Activision Blizzard (NASDAQ: ATVI) to $55.00 (from $54.00) while maintaining a Overweight rating.

Analyst Brian Nowak said his deep dive reveals an $100M annual revenue opportunity driven by content ads/licensing and sponsorships.

Nowak's bull case for eSports could add $0.37 in annual EPS. His PT does not incorporate the eSports franchise, but his estimated $8B ($11/share) valuation speaks to the optionality within the ATVI story and he sees 45% upside if the segment succeeds.

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