Goldman Sachs analyst Michael Ng initiates coverage on Activision Blizzard (NASDAQ: ATVI) with a Neutral rating and a price target of $50.00.

While the analyst believes the valuation is below historical averages he comes out sidelined citing a challenge in locating NT catalysts to drive a reversion to the mean.

For an analyst ratings summary and ratings history on Activision Blizzard click here. For more ratings news on Activision Blizzard click here.

Shares of Activision Blizzard closed at $45.73 yesterday.