Sterne Agee Remains Bullish On Activision Blizzard Following Earnings
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
|Nov 2016||BMO Capital||Maintains||Market Perform|
|Oct 2016||Mizuho||Initiates Coverage On||Outperform|
|Sep 2016||Morgan Stanley||Initiates Coverage on||Overweight|
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