Neil Doshi, Interactive Entertainment Analyst from Mizuho published a Activision Blizzard (NASDAQ; ATVI) earnings preview that states the company is likely to beat estimates slightly a slight guide up on new launches and intellectual property.

Doshi is below the street for revenue but above it for EPS at $946M and $0.16 vs. $952M and $0.15. Revenue is expected to decline 19% Y/Y due to the tough comp from Destiny in the year-ago quarter.

The publishing business is expected to be down 21% due to the tough Destiny comparison. Blizzard, is expected to account for $327 in revenue, down 16% YoY. World of Warcraft subs of 5.0m should be , down 11% QoQ and 32% YoY.

Launches in 4Q15 will be driven by the Call of Duty: Black Ops 3 (Nov. 6), Guitar Hero Live (Oct. 20), and Starcraft: Legacy of the Void (Nov. 10). Despite the rich lineup of titles, the year ago quarter included the launch of Skylanders and WoW: Warlords of Draenor.

Revenue and EPS estimates are $2,271m/$0.87 versus consensus of $2,245m/ $0.89. No changes to estimates or the Buy rating. The firm also maintained a $31 price target, which suggest downside from current market prices.

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Shares of Activision Blizzard closed at $34.76 yesterday.