Activision Blizzard (ATVI) PT Raised to $118 at Benchmark

February 23, 2021 7:59 AM EST
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Price: $85.06 +1.20%

Rating Summary:
    36 Buy, 5 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 16 | Down: 11 | New: 19
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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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