UPDATE: Sterne Agee Raises PT on Activision Blizzard to $17

A report from Sterne Agee reiterates its Buy rating, raises its price target from $15 to $17, and raises its FY11/12 EPS estimates from $.79/$.87 to $.86/$.97 on Activision Blizzard ATVI. The report states, “Next year's product slate looks strong. The Activision Publishing division will have a new Call of Duty and full year of Elite. In addition other possibilities sometime in the next 12 to 24 months include: the launch of Call of Duty in China, Bungie Universe and Skylanders Web World." ATVI closed yesterday at $13.93.