Activision Blizzard Inc.

Activision Blizzard Inc.

will face difficult revenue comparisons next year because of the currently strong performance of its Destiny video game product, an analyst said Wednesday. Activision beat third-quarter expectations Tuesday, citing its newly launched Destiny video game product as well as strong sales of existing products. The company opened sharply higher Wednesday, trading recently at $20.53 a share, up nearly 3 percent. Bank of America's Justin Post maintained a Buy rating on Activsion but shaved nearly 4 percent from his price target, bringing it to $25. Post said the company next year faces "a tough revenue headwind to make-up against Destiny. But new and pending products could help solve the difficulty. While Post focused on full-year 2015 revenue comparisons, Jeffries Brian Pitz focused on 2015's first half, when he thinks continued sales of Destiny "will make comps easy." Pitz maintained a Buy rating Wednesday and boosted his target nearly 4 percent to $27. Pitz called Destiny "the largest new franchise launch in video game history," accounting for $500 million of Activision's adjusted revenue of $1.17 billion in third-quarter revenue. Activision expects fourth-quarter adjusted earnings of $0.86 a share versus Wall Street's expectation of $0.94 a share. But Brean's Todd Mitchell thinks the outlook is likely "conservative" and maintained a Buy rating and $25 target.