Activision Blizzard (ATVI) PT Raised to $118 at Benchmark
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Benchmark analyst Mike Hickey raised the price target on Activision Blizzard (NASDAQ: ATVI) to $118.00 while maintaining a Buy rating.
The analyst commented, "Blizzard held their annual Blizzcon conference this past weekend; providing exciting game reveals/updates. ATVI is targeting 5 franchises to deliver over $1B in annual revenue over the next couple of years, up from 3 in FY20, which should drive revenue of +$10B and profit growth. We believe Blizzard franchises Diablo and Overwatch could scale to +$1B and could benefit from a full IP digital ecosystem including mobile, F2P, premium, eSport and advertising."
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