ATVI Beats Q4 Expectations
Analyst Todd Mitchell of Kaufman Brothers maintains his "buy" rating on Activision Blizzard Inc (NASDAQ: ATVI). The target price for ATVI is set to $15.
According to Kaufman Brothers, Activision Blizzard reported its Q4 results ahead of expectations despite a tough environment. “A billion dollars worth of Call of
Duty offset a dramatic drop-off in music sales and weaker-than expected sales of
Tony Hawk,” the analyst says.
“Activision completed $1.2 billion in share repurchases, announced it would repurchase another $1 billion of stock and declared a $0.15 dividend,” the analyst mentions. “Operating margins are expected to benefit from the Blizzard titles' higher contribution and improved operating margins for Guitar Hero,” the analyst adds.
(c) 2012 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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