UPDATE: Brean Capital Reiterates Buy Rating as Activision Prepares to Unveil Destiny Franchise, Skylander Expansion
In a report published Tuesday, Brean Capital reiterated its Buy rating and $15 PT on Activision Blizzard, Inc. (NASDAQ: ATVI).
In the report, Brean Capital wrote, "Activision's strategy is to enter the cycle with four key franchises; WOW, COD, StarCraft, and Skylanders, and to expand that to six with Destiny from Bungie and Titan from Blizzard. We believe the company still sees growth opportunities in COD on new platforms in emerging markets, and thinks that it can manage WOW decay until it can be replaced by Titan. If successful, we believe this strategy should position Activision for a strong rebound in revenue and EPS in 2014 and 2015."
Activision Blizzard closed Friday at $14.37.
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