Activision (ATVI) Lands 'Sweet' Deal with Kind Purchase; MKM Affirms at 'Buy'

Activision Blizzard (ATVI) PT Lifted to $40 at UBS on Solid Results and King Deal

UBS analyst Eric Sheridan reiterated a Buy rating and boosted his price target on Activision Blizzard (NASDAQ: ATVI) to $40.00 (from $36.00) following solid results and the KING takeover.

commented, "While ATVI delivered another quarter of upside across revenues, EBITDA and EPS driven... More

Activision Blizzard (ATVI) PT Raised to $44 at Cowen

Cowen Doug Creutz reiterated an Outperform rating and boosted his price target on Activision Blizzard (NASDAQ: ATVI) to $44.00 (from $35.00).

The analyst commented, "After further assessing Activision's Q3 results and the impact of the King deal, we are raising our price target from $35 to $44... More

Activision Blizzard (ATVI) Surprises Macquarie With KING Acquisition; Macquarie Reiterates Outperform

Macquarie reiterated an Outperform rating on Activision Blizzard (NASDAQ: ATVI), and raised the price target to $36.00 (from $28.00), following the announced acquisition of King Digital Entertainment (NYSE: KING) and 3Q earnings results. Overall, 3Q numbers and commentary were mostly... More

Activision's (ATVI) King Acquisition Marks Major Shift - Baird

Colin Sebastian from Baird published an earnings review/King acquisition analysis on Activision (NASDAQ: ATVI) this morning before the open. Strong results and a solid strategic foundation for the acquisition make him believe that guidance will prove to be conservative. No change to rating or EPS estimates. It is... More

Activision Blizzard (ATVI) Announces Acquisition of King Digital; Cowen Reiterates Outperform

Cowen reiterated an Outperform rating and $35.00 price target on Activision Blizzard (NASDAQ: ATVI) following the company's announcement that they are buying King Digital. Cowen believes that this deal is an absolute steal for Activision and immediately vaults them to being one of the... More

Moody's Upgrades Activision Blizzard's (ATVI) Unsecured Notes Rating to 'Baa3' Amid Move to Acquire King

Moody's Investors Service upgraded Activision Blizzard, Inc.'s (Nasdaq: ATVI) senior unsecured notes rating to Baa3 from Ba2, upgraded the company's senior secured credit facilities to Baa2 from Baa3, and withdrew the company's Ba1 Corporate Family Rating and Ba1-PD probability of default rating. The upgrade reflects Activision Blizzard's leading position in the growing and fragmented gaming industry, strong diversification across multiple genres and gaming platforms, and strong track record of developing profitable and sustainable franchises with international appeal. The upgrade occurs at the same time the company has announced its agreement to acquire... More

Activision Blizzard (ATVI) to Acquire King Digital (KING) for $5.9 Billion

Activision Blizzard, Inc. (Nasdaq: ATVI) and King Digital Entertainment plc (NYSE: KING) today announced the signing of a definitive agreement under which ABS Partners C.V. (ABS Partners), a wholly owned subsidiary of Activision Blizzard, will acquire all of the outstanding shares of King for $18.00 in cash per share, for a total equity value of $5.9 billion. The $18.00 per share purchase price implies a 20% premium over Kings 30 October 2015 closing price, a 26% premium over Kings 30 October 2015 enterprise value (which excludes net cash), a 23% premium over Kings one month... More