UPDATE: Stifel Nicolaus Raises PT to $17 on Activision Blizzard on Better February Metrics

Stifel Nicolaus maintained Activision Blizzard

with a Buy rating and raised the price target from $15.00 to $17.00. Stifel Nicolaus analyst Drew Crum noted, "[O]n Thursday The NPD Group, Inc. reported U.S. video games sales (packaged goods) for February w/ ATVI up +14% vs. our assumption (and limited consensus) for low/mid single-digits growth. Call of Duty + Skylanders represented (collectively) 70%+ of ATVI's software sales, based on the report. […] With healthy trends for Activision Publishing, the potential for additional '13 game announcements (not factored into estimates), interest surrounding a more aggressive stance w/ the balance sheet and cash flow use, and anticipation ahead of the next video game console cycle, we maintain our Buy rating on the shares." Activision Blizzard closed at $15.03 on Thursday.