Market Overview

Stifel Maintains Buy on Activision Blizzard

Share:
Related ATVI
'Overwatch' Could Put Activision Q2 Results Over Street Estimates
Barron's Picks And Pans: Pharmacy-Benefit Managers, Mortgage Insurers And More
Being Right Vs. Being Effective: Investment Gifts (Seeking Alpha)

In a report published Friday, Stifel analyst Drew Crum maintained a Buy rating on Activision Blizzard (NASDAQ: ATVI), raising its price target from $21.00 to $22.00.

According to the report, the Diablo III expansion pack, Reaper of Souls, is set to release on March 25, strengthening 1H14.

“More on Reaper of Souls – we forecast 4.5 million units for '14, which implies conversion of about 30% of the installed base (14 million+ copies of Diablo III sold across PC and consoles),” the report noted. “The game will initially be available for PC + Mac ($40 for digital standard edition), and PS4 at a later date. Reaper of Souls (pre-orders) is currently ranked as the #7 title on amazon.com's best selling PC titles.”

ATVI remains top pick entering 2014 due to:

-A better line-up of titles with Destiny serving as the primary catalyst. -The new gen console cycle. -Follow-through from the vivendi transaction. -Reasonable valuation (12.9x 2014E FCF)

ATVI closed Thursday at $18.30.

Latest Ratings for ATVI

DateFirmActionFromTo
Jun 2016BarclaysMaintainsOverweight
Apr 2016BMO CapitalInitiates Coverage onMarket Perform
Mar 2016Hilliard LyonsDowngradesBuyLong-term Buy

View More Analyst Ratings for ATVI
View the Latest Analyst Ratings

Posted-In: Drew Crum StifelAnalyst Color Reiteration Analyst Ratings

 

Related Articles (ATVI)

View Comments and Join the Discussion!