Activision Blizzard (ATVI) Cocooning and Title Strength Could Provide Support Through the Crisis - Benchmark
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Benchmark analyst Mike Hickey reiterated a Buy rating and $72.00 price target on Activision Blizzard (NASDAQ: ATVI) on the belief that near term performance growth upside and a benefit from a consumer trend towards in-home entertainment could sustain the company through the medium term.
The analyst stated "Recent market data has illuminated considerable demand for Warzone, World of Warcraft and Modern Warfare, which should combinate to drive favorable performance growth. ATVI has a strong balance sheet, $3.1B net cash and $1.7B FCF TTM or 4% yield".
Shares of Activision Blizzard closed at $58.50 yesterday.
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