Activision Blizzard (ATVI) PT Raised to $114 at Benchmark
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Benchmark analyst Mike Hickey raised the price target on Activision Blizzard (NASDAQ: ATVI) to $114.00 while maintaining a Buy rating.
The analyst commented, "ATVI delivered a strong F4Q20 and better than consensus F1Q21 and FY21 guidance, amplifying a structural lift from their Call of Duty franchise that consensus underestimated. Further, we estimate 50% of consensus view included a major release from Blizzard in FY21 that was not considered in guidance. We are modeling a meaningful step up in growth in FY22, led by Blizzard game launches."
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