UPDATE: Deutsche Bank Raises PT to $16 on Activision Blizzard

A report from Deutsche Bank reiterates its Buy rating and raises its price target from $15 to $16 on Activision Blizzard ATVI. The report states, “We think that the shares should trade higher as new digital and online subscription based revenues (CoD Elite, Diablo III) power both growth and profits in years to come and offer high visibility… With the likelihood of a good holiday Q ahead and downside support from buybacks, we would remain buyers of shares of A|B at current levels." ATVI closed yesterday at $13.78.