Brean Capital Sees Activision Blizzard As Well Positioned For 2H14 Upside

In a report published Monday, Brean Capital analyst Todd Mitchell reiterated a Buy rating and $25.00 price target on

. In the report, Brean Capital noted, “We believe Activision is well positioned for upside in 2H14. In the context of strong fundamentals and conservative guidance going into the beginning of the year, for the entire video game group, we believe that Activision is well positioned for upside surprises. "We see upside for revenue from the company's strong new console line-up, underpinned by Destiny and Call of Duty, which could prove to be the biggest releases of the year, and the potential for margin expansion from Blizzard including a successful Hearthstone. Moreover, given Activision's concentrated portfolio and the company's long history of successfully nurturing and monetizing its IP for the full length of cycle, we believe upside in the first year of this cycle portends well for future profitability. As a result, we reiterate our Buy rating and $25 target price on shares of ATVI.” Activision Blizzard closed on Friday at $22.44.