Activision Blizzard (ATVI): Call of Duty Drives Potential $200M in Revenue Upside - Benchmark
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Benchmark analyst Mike Hickey reiterated a Buy rating and $109.00 price target on Activision Blizzard (NASDAQ: ATVI), saying Call of Duty drives a potential $200M in revenue upside.
"ATVI released financial performance data for its Call of Duty franchise this morning, which suggests potential revenue upside of over $200M to our FY20 revenue estimates," Hickey commented. "Benchmark is modeling ATVI's Activision Publishing (AP) business segment at $3.793B for FY20, or up 71% compared to prior year; the vast majority of AP performance comes from Call of Duty franchises sales"
Shares of Activision Blizzard closed at $78.79 yesterday.
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