KeyBanc Thinks Warcraft Could Go Mobile at Activision Blizzard (ATVI) Blizzcon This Weekend
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KeyBanc analyst Tyler Parker reiterated an Overweight rating and $120.00 price target on Activision Blizzard (NASDAQ: ATVI) ahead of the annual BlizzCon event this weekend, February 19-20. The analyst expects to hear details on a variety of Blizzard franchises with progress reports on OW2 and Diablo 4. Additionally, it is possible to see the reveals of Diablo 2 Remastered and WoW Classic: The Burning Crusade.
The analyst stated "Blizzard mobile should be in focus. We already know Diablo Immortal is expected to release later this year, so an official beta/release date announcement makes sense. Also, management indicated there are games in advanced development to bring Warcraft to mobile, which indicates we may see some teasers. With the franchise strategy effectively growing the Call of Duty user base, we expect mobile to be used similarly within Blizzard's portfolio, which should drive growth over the next two to three years."
Shares of Activision Blizzard closed at $102.35 yesterday.
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