Oppenheimer analyst Martin Yang on UK's decision to block the Microsoft-Activision deal: "We take this opportunity to update our view on ATVI's stand-alone value. We conclude that ATVI will trade in a range of $65-$101 on a stand-alone basis with different sets of multiple assumptions and 2024 EPS estimates. After we ignore the overly conservative and aggressive assumptions, we believe a stand-alone value in the mid-$80s is more appropriate as a base case for investors. We also see upside to that price if Diablo 4 outperforms expectations in 2023 and 2024."

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 $86.74 yesterday.