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Sterne Agee Remains Bullish On Activision Blizzard Following Earnings

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On Wednesday, analysts at Sterne Agee commented on Activision Blizzard, Inc. (NASDAQ: ATVI) following third quarter financial results.

For the third quarter 2014 the company reported EPS of $0.23 per share on revenue of $1.17 billion, beating top and bottom line estimates convincingly. Moreover, the company raised full year revenue and EPS guidance.

Analyst Arvind Bhatia reiterated the Buy rating with a $24 price target.

Bhatia feels the company remains an attractive long-term, "Our favorable long-term view is predicated on 1) a strengthening portfolio; 2) 25%+ annual digital growth; 3) best-in-class management team; 4) China opportunity; 5) strong free cash flows; and 6) tailwinds of the console cycle."

Shares of Activision Blizzard recently traded at $20.51, up 2.8 percent.

Latest Ratings for ATVI

DateFirmActionFromTo
Nov 2016BMO CapitalMaintainsMarket Perform
Oct 2016MizuhoInitiates Coverage OnOutperform
Sep 2016Morgan StanleyInitiates Coverage onOverweight

View More Analyst Ratings for ATVI
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Posted-In: Arvind Bhatia Sterne AgeeAnalyst Color Price Target Reiteration Analyst Ratings

 

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